Chilean copper production was down slightly in November. |
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According to the Chilean Copper Commission, total copper production in November fell by 0.6% year-on-year to 481,800 mt. Lower production by BHP’s Escondida is largely to blame. Escondida, which is the world’s largest copper mine, saw output drop by 11.6% year-over-year to 80,300 mt in November. Total Chilean production as of November 30, 2021, is approximately 3.8 MMT. Total annual production in 2020 was over 5.8 MMT. According to Bloomberg, some mines were performing maintenance, which had been delayed due to the pandemic. (1/5/2022) |
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Price Indications |
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Today's Charts |
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AEGIS Insights |
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12/22/2021: AEGIS Factor Matrices: Most important variables affecting metals prices 12/13/2021: Section 232 Tariffs: Most relevant developments (AEGIS Reference) 11/30/2021: Will the Omicron COVID Variant Impact South African Metals Production or Exports? |
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Important Headlines & Economic Data |
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AISI Steel Capability Utilization Rate Investing.com Economic Calendar 1/4/2022: Copper price down, pressured by stronger dollar 1/4/2022: Chile’s November copper output falls amid drops from Codelco and Escondida |
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| Important Disclosure: Indicative prices are provided for information purposes only, and do not represent a commitment from AEGIS Hedging Solutions LLC ("Aegis") to assist any client to transact at those prices, or at any price, in the future. Aegis makes no guarantee to the accuracy or completeness of such information. Aegis and/or its trading principals do not offer a trading program to clients, nor do they propose guiding or directing a commodity interest account for any client based on any such trading program.
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