Chile's August copper output fell 13% YoY to 369,500 tonnes, the lowest monthly
total since February 2011, the national statistics office (INE) said on
Wednesday. Output was even lower than during the 2017 strike at BHP's Escondida;
despite high prices and billions of dollars of investment, Chile has been unable
to restore production to prior peaks. As the world's largest copper supplier,
the decline intensifies global supply tightness that has helped push copper to
record highs. Authorities have repeatedly cut 2026 production forecasts, and the
government says this year's decline may exceed earlier estimates.
