SHANGHAI, Jun. 24 (SMM) - Peru replaced Chile to be the largest copper ore supplying country to China in May, SMM reports.
“Two large copper mines in Peru - Las Bambas and Cerro Verde, came online, contributing to new capacity of 400,000 and 270,000 tonne per year.” SMM copper analyst explained.
Copper ore imports from Peru and Chile were 421,675 and 403,500 tonnes, respectively, in May, up 142% and 36% year-on-year.
SMM understands global copper expansion capacity is about 1.51 million tonnes in 2016, and mainly in Peru. Peru is expected to be the second largest copper producing country this year.
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