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Chile's copper production capacity fell to 430,000 tons
Top copper producer Chile produced 429,923 tonnes of copper in January, its lowest January output since 2011, in the latest bullish sign for global metals markets.
Some mines may be catching up with earthworks and maintenance work delayed during the pandemic. For example, a maintenance program at the Chuquicamata smelter will limit refined metal output later this year, owner Codelco said on Friday.
Water scarcity could also play a role in operations in central Chile after more than a decade of drought, said Juan Carlos Guajardo, head of consultancy Plusmining. Meanwhile, seasonal rains in the so-called highland winter could affect operations in some northern regions.
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