UPDATE 1-Chile copper exports soar in August on high prices

  • 9/7/2021
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(Updates with additional context, value of imports) SANTIAGO, Sept 7 (Reuters) - 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. (Reporting by Fabian Cambero, writing by Dave Sherwood, Editing by Andrew Heavens and Susan Fenton) Our Standards: The Thomson Reuters Trust Principles.

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