Chile copper exports soar in August on high prices

7th September 2021 By: Reuters

SANTIAGO - Chilean copper exports soared 40.5% in value in August from a year earlier amid high global prices for the red metal, the central bank said on Tuesday.

The price of copper - a key metal in construction and electric vehicle manufacturing - hit record highs earlier this year and has remained higher than long-term averages, bringing a windfall to Chile, the world's top copper producer.

Total exports of copper jumped to $4.383-billion last month, more than half the value of the country's overall exports, which hit $7.822-billion in August.

Chile reported a trade surplus of $6-million, the bank said, as imports in August also soared 73%, to $7.816-billion.

Chile's state miner Codelco is the world's largest copper producer and global miners BHP, Anglo American and Antofagasta, among others, also have operations in the country.