Southern Copper 2nd-Quarter Income Doubles on Metal Prices

Bloomberg reports that Southern Copper Corp.’s (NYSE:SCCO) second-quarter profit more than doubled after copper prices and output increased.

The market news is quoted as saying:

Southern hedged 32 percent of its 2011 copper output at $4.08 per pound and 30 percent with an average floor price of $3.02 a pound and a maximum price of $4.84 a pound. The remaining 38 percent isn’t hedged.

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