Morning Bites (part 1)

📌The combined copper production of Chile and Peru was up 0.5% YoY in November (vs. +4% YoY in October). Overall, the dynamics imply no material effect on prices, at least in the short term, although the combined copper output is close to its six-year lows

🇨🇱Chile’s copper production shrank 5% YoY in November (vs. +2% YoY in October). According to officials, these dynamics were partly triggered by lower ore grade and operational issues affecting major producers in the sector. In addition, some deposits have also been hit by reduced water availability, accidents and maintenance. Chile accounts for ~27% of global mined copper supply

🇵🇪Peru’s copper output was up 15% YoY in November, accelerating from the 8% YoY in October. Most of the gains were driven by higher production at Antamina, Cerro Verde and other local mines. Peru accounts for some 11% of global mined copper production

#copper
https://metals-wire.com:3000/sector/Copper