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Chile copper output falls 14% y/y in May

Reuters | June 30, 2023 | 5:48 am Markets Latin America Copper 
Copper output misses expose flaws in forecasts
Lomas Bayas copper mine in Chile. (Image courtesy of Glencore.)

Copper output in Chile, the world’s largest producer, dropped 14% year-on-year in May to 413,083 tons, the country’s INE statistics agency said on Friday.

Manufacturing production in the country, meanwhile, decreased less than expected by 1.2% in the period, the INE added. Economists polled by Reuters had forecast a 4.5% drop.

(By Natalia Siniawski and Fabian Andres; Editing by Christina Fincher)

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