Copper exports show Chile is on the way out

On June 8, according to media sources, Chile’s latest copper production seems to be in line with recent disappointments on the supply side.

However, a closer look reveals that Chilean copper production may be improving.

Chilean output may be stabilizing after a series of project delays, mine and plant maintenance, the data suggested.

The previous monthly data showed a sharp rise in output from Peru and continued growth at the giant Kamoa-Kakula copper mine in Congo.

The combination of stronger copper production supply and weak overseas demand helps explain why copper inventories are at a seven-month high.