Chile’s copper production rose by 0.3pc to 4.74mn mt in January-October 2020, from 4.73mn mt produced in the same period last year, according to the latest figures released by the Chilean Copper Commission (Cochilco).
However, in October, Chilean copper production fell by 0.7pc to 486,400mt from 490,000mt produced in October last year due to lower production from Escondida and Collahuasi miners. On the other hand, Anglo American Sur saw its production increase by 7.5pc to 35,500mt from 33,000mt in the same period under comparison. Los Pelambres’ copper output also rose by 20pc to 29,900mt in October 2020, from 24,900mt in the same month of 2019.
Exports of copper by value remained flat at $27.1bn between January-October on an annual basis, Cochilco said without disclosing actual volumes. Of the total value exported, $14.9bn corresponds to China, $2.6bn to Japan, $2.1bn to South Korea, $1.9bn was shipped to the US and $1.06bn were exported to Brazil.
Chile copper production is expected to rise by 0.6pc in 2020 to 5.8mn mt, according to Cochilco’s latest predictions. The agency noted that copper prices reached $3.48/lb on Thursday, Dec 3, up by 0.82pc over the prior day.