Storm clouds ahead for Chilean economy as world copper prices continue to fall

Wednesday, July 10th 2013 - 06:01 UTC

Full article 4 comments

Chile cut its copper output forecast for the year to 5.53 million tons due to setbacks at certain mines, though production is still expected to jump from 2012 as a new deposit comes online, the mining ministry said this week. Read full article

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Captain Poppy
I still think that Chile will fair better than most of the SA countries, especially the communist bloc countries. Anyone see the Chinese crude imports? Down.....their economy is in the toilet.....how are they to save mercosur?

http://www.reuters.com/article/2013/07/10/china-crude-imports-idUSL4N0FG15N20130710?feedType=RSS&feedName=basicMaterialsSector&rpc=43
Jul 10th, 2013 - 10:06 am - Link - Report abuse 0
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ChrisR
1 Captain Poppy

It seems that the Chin ruling committee are more concerned with how they can service the rising clamour for better foodstuffs, especially meat.

They still have massive reserves and I would not be surprised if they entered into buying more major meat producing companies.

In other words they are buying the family silver of SA.
Jul 10th, 2013 - 11:50 am - Link - Report abuse 0
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Chicureo
Well, it's not al that bad. Prices have been high for a long period and the Chilean government has been creating an emergency fund in case the copper market collapses. As this is an election year, we expect the major unions to go on strike and demand higher wages. Meanwhile he economy is slowing down, but still very healthy despite China being our major trading partner.
Jul 11th, 2013 - 02:38 am - Link - Report abuse 0
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Ernie4001
It won´t be much trouble for the chilean economy to handle this. Unlike others Sam. there are plenty of ways to cope the eventual fall of copper income in case of.
Jul 12th, 2013 - 07:25 pm - Link - Report abuse 0
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