off-the-wire

Chile’s copper output and manufacturing production fall in March

Kitco Media
By Reuters
Published:
Updated:
Reuters
Chile’s copper output and manufacturing production fall in March teaser 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)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.