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Peru's metals export revenue fell 10.4% year on year to US$2.18bn in October, and total exports fell 2.8%. Copper sales dropped 13.2% on lower volumes and prices, and zinc and lead exports also fell sharply.
Phosphate exports from Vale's Bayóvar mine were roughly halved.
Lower metals prices and volumes point to weaker Peruvian industrial demand and softer export earnings. The halving of Bayóvar phosphate exports is a minor signal for phosphate-rock supply, but the effect on feed-ingredient prices is limited.
bnamericas.comDec 13, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
