In July, copper prices rose 4.6% over the previous month to reach USD 9,731 per tonne (equivalent to USD 4.41 per pound), after prices had increased a tiny 0.8% in June. With the July price increase, copper prices moved closer to the USD 9,858 per tonne peak recorded in February, which had marked the highest end-of-month level on record. In annual terms, copper prices are 35.2% higher than in the same month last year. On 5 August, the two-week strike at the Escondida mine (the world's largest copper mine), which saw prices soaring on increasing fears of supply shortages, came to end after unions accepted a new bonus offer from the mine's operator. The end of the strike at the mine, which extracts 7% of the world's copper, should ease supply fears and lead to a moderation in copper prices as the global economic recovery falters. High prices for copper, which accounts for half of the country's total exports, saw exports expand 19.2% year-on-year in July. Moreover, the 3-month sum in exports reached USD 21.3 billion in July, which exceeded the USD 19.7 billion peak recorded in May 2008.
Copper prices jumped in July as strikes triggered supply fears
August 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
In August, economic activity rose 2.5% over the same month last year, according to the monthly indicator for economic activity (IMACEC).
October 5, 2016
The Chilean government presented the most austere budget proposal in over a decade on 30 September.