Chile's Copper Output Dips 3% YoY in January, Manufacturing Falls 3.8%

According to foreign media reports, data released by Chile's National Statistics Institute shows that copper production in Chile, the world's largest copper producer, fell 3% year-on-year in January to 413,712 metric tons. The agency stated that the country's manufacturing output also declined by 3.8% during the same month.

Sheng raised its copper price forecast, expecting copper prices to reach $12,200 per mt by the end of 2026, up from the previous expectation of $11,000. The bank also raised its price expectations for H2 2027, now projecting copper prices to reach $12,000, compared with the previous estimate of $11,000.

Following the Chinese New Year holiday, the domestic wire and cable industry has gradually resumed production in an orderly manner, with the overall pace of work resumption largely aligning with expectations. The specific details are as follows......