Chile Q1 2016 copper exports tumbled 15% y-o-y

By Carolina Curiel (ScrapMonster Author)

April 08, 2016 08:29:17 AM

SANTIAGO (Scrap Monster): The most recent data published by the Central Bank indicates that Chile’s copper exports dropped sharply by 15% during the initial three-month period of the current year.

According to data, the country’s copper exports during the first quarter (January to March) of 2016 amounted to $6.74 billion. This is significantly down by 15% when compared with the corresponding quarter last year. The Chilean copper exports had amounted to $7.975 billion during January to March 2015. Out of this, the exports of copper in concentrates totaled $2.888 billion, falling sharply by 18% over the previous year. The exports of copper in cathodes too fell sharply by 12% to $3.293 billion.

For the month of March alone, the copper exports by the country amounted to $2.419 billion, dropping sharply by 12% from the year before. The country exported $1.118 billion worth of copper in concentrates. The concentrate exports have declined by 7% over the previous year. Cathode exports were valued at $1.094 billion, significantly lower by almost one-fifth over the year.

The latest monthly statistics published by Chile’s statistics institute, INE, suggests that the country’s copper production remained ended marginally higher during the month of February this year. As per INE data, Chile’s copper production totaled 449,539 mt during February this year, marginally higher by 0.2% when compared with the previous year. The country’s copper production during February last year had totaled 448,642 mt. The cumulative copper output by Chile during the initial two months of the year totaled 909,681 mt. The output during this period dropped significantly by 6.7% when compared with the previous year.

Chile had produced 5.794 million mt of copper during entire year 2015, thereby retaining its position as the world’s leading copper producing nation.