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

Peru’s mining exports dropped by 41.5pc in May, compared with the same month last year, due to COVID-19 restrictions and lower demand for copper, iron ore, zinc, and lead from China.


Peruvian mining exports were valued at $1.3bn in May, down from $2.2bn during the same month last year, according to the latest data released by the National Institute of Statistics and Informatics (Inei).


The South American country exported $951.7mn worth of copper in May this year, down by 31.4pc from $1.3bn shipped in May 2019. Peru exported 64pc of its total copper output to China, Inei noted though it did not disclose the export volume.


The country did not record any iron ore exports during the month because of which export of the material fell 100pc in May to $0 from $421mn exported during the same month last year. Zinc exports also fell by 79.7pc to $56.4mn from $277.5mn during the same period under comparison.


Lead exports decreased by 6.3pc to $111mn in May from $118.6mn shipped during the same month last year.


China, South Korea, Japan, Italy, Spain, the US, Brazil, and Chile were some of the key export destinations for Peruvian ore.


Prices decrease

Peruvian zinc export prices decreased by 28.8pc in May compared with the same month last year, Inei said without disclosing the price, while copper export prices declined by 12.7. Lead and molybdenum export prices also saw a reduction of 11.7pc and 31.7pc, respectively, during the same period.


The mining industry is one of the most important economic activities in Peru, which represents about 9pc of GDP and 60pc of the country’s exports. Copper and gold are the most important metals exported by value.

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