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Chile copper exports in 2017 reached maximum

Metal News - Published on Wed, 10 Jan 2018

Image Source: plenglish.com
Press Letina reported that price of Chilean copper exports in 2017 reached its highest level in the last three years. According to the estimates of the issuing entity, shipments of the metal rose 21.2 % to a total of 34,043 million dollars in 2017, due to a recovery in its price, which will help to strengthen the finances of this nation.

In the previous year, the price of the metal had a year-on-year growth of 26.8 percent.

The rise in exports of the red metal added 3,865 million dollars in December, the best monthly performance since the end of 2012.

Currently, copper is quoted above three dollars a pound, but the industry expects its rise to be more limited amid the volatility in the market.

According to analysts, the increase in the amount of copper was one of the fundamental factors after the strong appreciation of the peso against the dollar, which allowed a strengthening of the country's fiscal coffers.

However, despite the rebound in recent months, the government Chilean Commission of the Copper predicted that the production of the metal would have a year-on-year decline of 4 % to 5.27 million tonnes, as a result of the effects of the prolonged strike at the mine Escondida, during the first half of last year.

Source :

Posted By : Rabi Wangkhem on Wed, 10 Jan 2018
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