Sandfire (ASX:SFR) share price falls despite record shipment

The Sandfire Resources Ltd (ASX: SFR) share price has dropped today despite the company announcing record shipments of copper concentrate.

Near market close, the Sandfire share price was trading down 1.83% at $5.37.

Record shipment

Earlier today, Sandfire advised that it has completed the largest-ever single shipment of copper concentrate. The mineral was extracted from its 100% owned DeGrussa operations in Western Australia.

Weighing more than 23,000 wet metric tonnes (wmt), the copper concentrate left the Port of Geraldton in Western Australia bound for Europe, to be refined in smelters. The process will be overseen by Sandfire’s strategic partner, Concord Resources.

At the current spot copper prices, its estimated that the…