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Chile's copper output falls 0.9% y/y as supply shortfall nears

I infrequently write about the looming shortage of base metals, including copper. Chile's stats agency is out with data showing production in the country -- which itself is the equivalent of OPEC for the copper market -- is down 0.9% y/y.It's not improving either. On Friday, state copper company Codelco cut its 2023 output forecast to 1.31-1.35 million metric tons from 1.35-1.45 million previously. That's after several production halts and because grades are falling.In a related story, the FT th... Read More

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Posted: Jul 31 2023, 13:14

Author Name: forexlive

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