Copper market’s biggest whale fuels speculation of a major shift
The world’s single biggest buyer of copper, State Grid Corp. of China, has slowed its purchases of copper wire this year.
Chile’s total copper production fell 10.2% in August to reach 415,500 tonnes, government body Cochilco said on Tuesday.
Production from state-owned giant Codelco fell 29.6% on a year-on-year basis to 101,800 tonnes, while production at Collahuasi, a joint venture of Anglo American and Glencore, dipped 5.4% to 45,600 tonnes.
Copper output from Escondida, which is controlled by Australian mining giant BHP, rose 13.7% to 92,700 tonnes, Cochilco said.
(By Fabian Cambero)
Comments