Foreign media reported on January 11: According to data from the Chilean Copper Commission (Cochilco), Chile's copper production declined in November, primarily due to reduced output from the state-owned mining company Codelco and the Escondida mine. PriceSeek's analysis of copper indicates a bullish-bearish score of 1. As one of the world's largest copper producers, Chile's decline in copper production in November is mainly attributed to output reductions at Codelco and the Escondida mine, leading to a decrease in market supply. Based on the principle of supply and demand, a contraction in supply will drive up spot copper prices, providing favorable support. Although specific reduction figures were not provided, Chile's production accounts for a significant share of the global market, and it is expected to have a generally positive impact on prices.
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