copper cathode

Importance of changes in the global copper price on Chile and Peru economy

The growth of the concentrate price in 2021

11% of Chile’s GDP and 10% of Peru’s GDP are related to the extraction of mineral metal; among all these metals, copper is known as the crucial one in these two countries. As a consequence, copper accounts an important metal for the countries’ economies.

In view of the increase in the global copper price in 2021, Chile’s concentrate and cathode experienced an increase in their export price which respectively was 33.9% and 34%, and this increase was about 35% and 32.6% for Peru’s concentrate and cathode.

September 9, 2023 Copper

Chile’s position in the global copper cathode trade is weakening

The global copper cathode trade

Chile has maintained its first position in the global market of copper upstream product, such as copper cathodes over the past 10 years, and has accounted for a share of 30%. But despite the greater prosperity of the copper trade, the global growth rate of Chile’s export share decreased.

Chile, Japan, and Russia are among the main copper cathode exporters in the world. These 3 countries accounted for about 43% of these upstream copper products in the global total export market on average, over the past 10 years.

November 16, 2022 Copper

Global crisis of copper market during Russia-Ukraine conflict

The impact of Russia-Ukraine conflict on the global copper market

Russia, as one of LME copper supplier, plays a key role in the supply of European copper, and the sanctions imposed after Russia-Ukraine conflict and the lack of purchase from Russia’s producers have faced Europe with a copper deficit and the copper price increased to over $10,000/t over the period.

The geopolitical tensions between Russia and Ukraine, followed by growth of the US interest rates and other central banks due to the higher global inflation, increasing the copper price at a certain point. The surge in fuel price led to a growth in transportation cost and other production costs, which also had an effect on the higher price of commodities, including copper.

August 14, 2022 Copper

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All posts tagged: copper cathode

Importance of changes in the global copper price on Chile and Peru economy

Chile’s position in the global copper cathode trade is weakening

Global crisis of copper market during Russia-Ukraine conflict

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