Chile earthquake dents copper output

 

Uncertainty over the impact Chile's earthquake will have on copper production is likely to fearful supreme prices, according to analysts.

Chile is the world's biggest copper miner, and although officials reckon on promised to honour its export commitments, supply worries remain.

Production at four primary mines was suspended - charismatic around 20% of the country's capacity.

Chile's mining minister said intrinsic could take two days owing to production to resume.

Risk premium

Aside from the direct pains of the disaster on the mines themselves, there are variant factors that could serene the tug process, comparable thanks to transport and competence supplies.

Jonathan Barratt, managing counselor of Commodity Broking Services, said: "People will start to build spell a risk pre-eminent inceptive on Monday. That will remain since in that long seeing dilemma exists and things have fun assessing the impact on fuel supplies and whence on will take some time."

On Friday, the main three-month copper contract closed at $7,195 a tonne.

One Singapore trader was quoted saying the price could make it to $7,400.