In May, copper prices eased 1.6% over the previous month, to finish at USD 9,225 per tonne (equivalent to USD 4.18 per pound), which marked the third consecutive monthly drop. With the May price drop, copper prices fell further below the USD 9,858 per tonne peak recorded in February, which had marked the highest end-of-month level on record. Despite the monthly price drop, copper prices remain elevated and are 33.2% higher than in the same month last year. Prices are expected to remain high throughout the year, as China's copper demand strengthens. On 25 May, miners at El Teniente, Chile's fourth largest mine, went on strike demanding higher wages and better benefits. However, the strike soon escalated to violence and, by June 6, the mine reported to be operating at less than half of its capacity, as miners stay off work to avoid the conflicts. Events at El Teniente are likely to exert further upward pressure on copper prices as supply concerns spread. High prices for copper, which accounts for half of the country's total exports, saw exports expand 28.2% year-on-year in May. Moreover, the 3-month sum in exports reached USD 22.2 billion in May, which exceeded the USD 19.7 billion peak recorded in May 2008 for the fourth consecutive month.
Copper prices moderate further in May
June 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).