In August, copper prices dropped 5.5% over the previous month to USD 9,197 per tonne (equivalent to USD 4.14 per pound), contrasting the 4.6% increase in July. Fears of a supply stoppage waned as unions lifted a two-week strike at the Escondida mine (the world largest copper mine) on 5 August, thus easing upward pressures on prices. Moreover, on 2 September, Escondida stated that ?it would lift force majeure? on its copper shipments, imposed on 27 July when the union strike had started to halt production. Despite the monthly price drop, copper prices rose 25.0% over the same month last year. Copper prices are expected to remain elevated as persistent rise in China's metal demand should offset slower growth concerns in other major economies. High prices for copper, which accounts for half of the country's total exports, drove exports to expand 26.3% year-on-year in August. Moreover, the 3-month sum in exports reached USD 20.5 billion in August, which exceeded the USD 19.7 billion peak recorded in May 2008.
Copper prices ease in August as supply fears wane
September 1, 2011
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Chile Economic News
October 12, 2016
In September, the Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) rose slightly, inching up from August’s record-low of 31.5 points to 33.4 points.
October 7, 2016
In September, consumer prices rose 0.2% over the previous month, which came in above August’s flat reading.
October 6, 2016
In Q3, the mood among Chilean businesses improved and reached the highest level in a year.
October 5, 2016
For a third consecutive month, the mood among Chilean businesses improved in September after it had fallen to the lowest level in over seven years in June.
October 5, 2016
In August, economic activity rose 2.5% over the same month last year, according to the monthly indicator for economic activity (IMACEC).