Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Chile’s copper exports fell by 1.1pc to 572,000mt in January from 578,000mt shipped in the same month last year, according to the Chilean Copper Commission (Cochilco). 

By value, exports increased by 8.5pc to $2.73bn during the same period, from $2.51bn shipped in January of 2019, Cochilco said on Mar 11. Of the total amount, copper exports to China valued at $1.5bn in January; to the US at $304mn; to Japan at $235mn; to Brazil at $143mn; and to South Korea and Taiwan were at $135mn each.

Chile’s copper production fell by 0.7pc to 457,100mt in January from 460,100mt a year ago due to lower production from Los Pelambres, Escondida, and Spence. Chile, the world’s largest copper producer, has increased its price guidance for copper to $3.30/lb. Copper production is expected to increase by 3.6pc to 6mn mt this year.

Copper prices reached $4.11/lb on Thursday, March 11, up by 1.38pc compared to the prior day, according to data from Cochilco. 


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