Chile July Copper Exports Rise To $3.15B Vs $2.71B Year Ago

SANTIAGO, Aug 16, 2010 (Dow Jones Commodities News via Comtex) -- The value of Chile's copper exports in July rose to $3.15 billion from $2.71 billion in the same month the previous year, the central bank reported Monday.

The rise was mostly due to higher international copper prices.

Chile's overall mining exports, including molybdenum, iron, silver, iodine and lithium, increased to $3.53 billion in July from $2.94 billion a year earlier.

According to state copper commission Cochilco, spot copper prices averaged $3.06 a pound on the London Metal Exchange in July, significantly higher than the $2.37 a pound the metal averaged the same month last year. In January-July, prices averaged $3.12 a pound, compared with $1.82 a pound for the same period in 2009.

Accumulated copper exports for the first seven months of the year rose to $21.3 billion from $13.8 billion in 2009, while overall mining exports increased to $23.5 billion from $15.4 billion during the same period last year.

Chile is the world's largest copper producer, accounting for about a third of global production. It is also one of the world's biggest producers of iodine, lithium and molybdenum.