Stormy seas hit Chile copper exports, could buoy prices

Reuters | July 17, 2016 | 2:39 pm Base Metals Latin America Copper 
Two charts show copper price slump may have been overdone
Altonorte anodes port of Antofagasta, Chile. Image from Glencore.

Choppy seas off the coast of Chile caused widespread delays to copper shipments from the world’s top producer in the second half of June, potentially supporting prices in a market grappling with oversupply.

Cargoes were stranded at ports as stormy weather prevented ships from loading, said miners in Chile, including world No.1 Codelco.

That could buttress prices in the short-term, although any impact is unlikely to last long as miners said exports were back to normal by the start of this month.

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