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Chile copper export decreases

18 August 2015

Chile's Central Bank has published the latest statistics on copper exports. According to them, during the July 2015 observed decline in exports of metal in the country. Exported volumes, in terms of an annual rate, down almost 24%. The price of copper, set to export for a month, hit 2.398 billion. USD. At the same time the value of exports amounted to 3.171 billion. USD for the same period in 2014. The decline in exports due to the sharp fall in the value of copper. In July of this year, one pound of copper was estimated at 2,48 USD. This figure is almost 23% lower than the cost of copper in July last year — 3,22 USD / pound. Exported volumes of copper cathodes fell by 19%, amounting to about 1.102 billion. USD. Exports of copper concentrate showed an even greater fall — 23%, to the level of 1.023 billion USD.

In January-July 2015 the volume of copper exported by Chile reached 19.352 billion. USD. This figure below last year's results by 13%. For 7mesyachny period last year price of the metal was exported 22.244 billion. USD. In annual terms, exports of cathode copper fell by 16% to 8.796 billion. USD. The volume of export of copper concentrate decreased by 6% to $ 8.898 billion. USD. According to analysts' expectations for 2015 Chile produced about 5.8 mln. Tons of copper. Thus Chile continues to be the world's leading manufacturer of metal.

At the same time Cochilco, the Chilean Copper Commission, published its own report. In accordance with the country could face a decline in copper output after 2025. Such a course of events is possible, if the metal is not new production technology will be developed. Today, Chile expects to ramp up production of copper in 2025 to a level of 10 million. Tons. At the same time, there are several factors that can reduce the planned volumes. Among the key reasons other than lack of tech — difficulties in expanding existing mines.

Meanwhile, copper production in June reached the mark of 513.791 tons. This figure is 2.9% higher than the result in June 2014. As compared to the May 2015 increase was 1.1%. During the first half copper production increased by 2.4%, reaching 2.94 million. Tons. Specialists Instituto Nacional de Estadisticas believe that the improved performance is based on the number of mines increased load.

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