While the excess supply in the market, led to decline in global copper prices over the past 5 years, and the metal lost about 50 percent of its value, recently published news and data show that the largest copper producers are increasing their production regardless of the current circumstances. For example, statistics from copper concentrate production in May indicates that Peru has excelled from Chile, the largest copper producer.

Copper concentrate production in Peru is exported mainly to China. The country in May, exported about 422 thousand tons of copper concentrate, a 142 percent increase compared to the same period in the previous year and an increase of 41 percent compared to the previous month. The total offshore shipments from Peru during the first five months of this year, was 1.7 million tons (93 percent increase over the same period last year).
Chile is also increased production and exported about 404 thousand tons of concentrate to China in May, a 37 percent increase compared to same month last year and it had 11 percent growth compared to the previous month. In the first five months of this year, shipments from Chile, the largest copper producer in the world had 34 percent increase compared to the same period in the last year to a total of 1.85 million tons. Mongolia’s exports, as the third largest copper supplier of China, in the first five months of this year, had 29 percent increase from the same period of the last years and it reached total of 657 thousand tons. In the first five months of 2016, Chile and Peru supplied about 53 percent of the total copper imports to China and with adding Mongolia this figure reaches to 63 percent. It is expected that high production rates in Peru will continue in the next few months and will growth annually by 8 percent till 2018.

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