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Chile, the largest copper producer, had 429,923 tonnes of copper capacity in January, the lowest January output since 2011, the latest bullish sign
for global metals markets.
The Bureau of Statistics reported on Monday that production in January was down 15 percent from December and 7.
5 percent from January 2021, but did not give a clear reason for
the decline.
To be sure, Chilean production usually declines in the new year and will fluctuate depending on whether the mine encounters a higher or lower quality ore section
.
Some mines may be catching up with earthworks and maintenance work
delayed during the pandemic.
For example, owner Codelco said Friday that a maintenance program at the Chuquicamata smelter would limit output of refined metals later this year
.
Juan Carlos Guajardo, head of consultancy Plusmining, said water scarcity could also play a role
in operations in central Chile after more than a decade of drought.
At the same time, seasonal rains in the so-called highland winter may affect operations
in some northerly regions.
Chile, the largest copper producer, had 429,923 tonnes of copper capacity in January, the lowest January output since 2011, the latest bullish sign
for global metals markets.
The Bureau of Statistics reported on Monday that production in January was down 15 percent from December and 7.
5 percent from January 2021, but did not give a clear reason for
the decline.
To be sure, Chilean production usually declines in the new year and will fluctuate depending on whether the mine encounters a higher or lower quality ore section
.
Some mines may be catching up with earthworks and maintenance work
delayed during the pandemic.
For example, owner Codelco said Friday that a maintenance program at the Chuquicamata smelter would limit output of refined metals later this year
.
Juan Carlos Guajardo, head of consultancy Plusmining, said water scarcity could also play a role
in operations in central Chile after more than a decade of drought.
At the same time, seasonal rains in the so-called highland winter may affect operations
in some northerly regions.
