Chile copper recovery remains elusive as July exports drop
by Bloomberg Aug 07, 2023
Hopes of a sustained recovery in Chilean copper shipments are fading after the biggest-producing nation saw July exports come in at the lowest level since January.
Revenue from shipments last month slumped 13% from June levels, despite slightly higher prices for the metal. That suggests Chilean operations continue to endure project delays and mine-specific setbacks that have restrained production for the past year and a half.
Weaker supply out of Chile — a country that accounts for a quarter of global production — also helps explain why Chinese inventories are nearing critically low levels.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
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