31.03.202614:20:46UTC+00Chile Copper Production Lowest in 9 Years

Chile’s copper production fell 4.8% year over year in February to 378,554 metric tons, its lowest monthly level since March 2017. On a rolling 12‑month basis, output has now declined for seven consecutive months, largely due to persistent challenges at projects focused on higher‑grade ore.

While there were no major operational disruptions reported in February, seasonal factors typical of the Southern Hemisphere summer—such as heavy rainfall in northern Chile and rough seas—can impede logistics and temporarily affect shipments.

The downturn in Chilean production is particularly significant given the country’s dominant role in global copper supply, heightening concerns about tightening availability in the international market. These supply constraints were a key driver of the surge in copper prices to record highs in January. Month over month, February output was 8.5% lower than in January.