Chile’s copper output and manufacturing production fall in March
Chuquicamata, the world’s biggest open pit copper mine, in Calama, Chile. Stock image.
Copper output in Chile fell 9.04% year-on-year in March while manufacturing production in the Andean nation declined 4.5%, statistics agency INE said on Thursday.
Chile, the world’s top producer of the red metal, saw its copper output sank to 434,314 metric tons from 477,464 metric tons the prior year.
Copper is considered an economic bellwether due to its uses across many sectors.
The manufactures’ decline was mainly driven by a decrease in food production, the state agency said on a separate report. March’s data missed expectations of economists polled by Reuters that anticipated a 1% decrease in manufacturing output.
(By Natalia Ramos, Aida Pelaez-Fernandez and Jorge Ollero; Editing by Sarah Morland)
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