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On June 8, according to media sources, Chile’s latest copper production seems to be in line with recent disappointments on the supply side.
However, a closer look reveals that Chilean copper production may be improving.
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Chilean output may be stabilizing after a series of project delays, mine and plant maintenance, the data suggested.
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The previous monthly data showed a sharp rise in output from Peru and continued growth at the giant Kamoa-Kakula copper mine in Congo.
The combination of stronger copper production supply and weak overseas demand helps explain why copper inventories are at a seven-month high.
