Codelco Plans To Safeguard Chuquicamata Output Amid Strike

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Codelco has decided to “implement measures to safeguard production at its massive Chuquicamata mine, where a strike caused the company to halt smelting operations.”

“The shutdown, which started on Dec. 3, has cost the smelter 11,000 tonnes of copper concentrate but hasn’t affected other operations at the mine, state-run Codelco said in a statement.”

“‘That could change if other areas are forced to stop operating due to the interruption of the production chain. If we can’t get copper concentrate out of Chuquicamata, we won’t be able to meet targets,’ the miner said.”

On Thursday, December 12, US copper producer grade 110 price experienced the biggest change, rising 0.8 percent. After a 0.8 percent increase, the price of US copper producer grade 122 finished the day. The price of US copper producer grade 102 rose 0.7 percent. The cash price of primary Japanese copper steadied following two-days of increases.

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Chinese copper closed mixed yesterday. The price of Chinese copper bar finished the market day up 0.3 percent per metric ton. The cash price of Chinese copper finished the market day up 0.3 percent per metric ton. Chinese copper wire saw little change in its price yesterday. The price of Chinese bright copper scrap was unchanged.

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The cash price of primary copper flattened at $7,169 after two days of improvement on the LME. The copper 3-month price ended a two-day climb, settling at $7,161 per metric ton on the LME.