In December, copper prices jumped 16.3% over November, closing the year at an all-time high of USD 9,740 per tonne (equivalent to USD 4.41 per pound). At the current level, copper prices are 32.6% higher than in the same month last year. The November price rise was mainly due to supply disruptions in Chile as well as optimistic expectations regarding future demand from China. On 18 December, an accident at the Anglo American Plc and Xstrata Plc's Collahuasi venture, the world's third-largest copper mine, forced the closure of the port for ?a couple of months?. The companies claimed ?force majeure?, which frees them from liability or obligation to deliver copper, thus curbing output levels. Moreover, another accident at Codelco's Chuquicamata refinery on 29 December added to supply concerns, which further spurred prices. Rising prices for copper, which accounts for half of the country's total exports, continue to have a positive effect on trade revenue, with exports expanding 33.1% year-on-year in December. The 3-month sum in exports reached USD 19.2 billion in November, which still short of the USD 19.7 billion peak recorded in May 2008 but significantly above the trough of USD 10.9 billion registered in February 2009.
Copper prices hit all-time high in December
January 3, 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).