MNI BRIEF: Foreign Firms Content In China

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

Unemployment Falls To 11.3% In Q2, Driven By Services

1 and 3-Year Consumer Inflation Expectations Remain Unchanged

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.8%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

State-Owned Codelco Report Copper Production Slump

CHILE
  • Codelco’s Q1 copper production and sales plunged as the world’s biggest supplier of the metal struggles to recover from a dip in ore quality and setbacks at its mines and projects in Chile. The company’s output is near the lowest level in a quarter of a century, underscoring the copper industry’s battle to maintain output as new deposits become trickier and pricier to develop.
  • News is exacerbating concerns over an imminent shortage as demand for the red metal takes off in the shift away from fossil fuels.
  • “It’s a complex transition time, between deposits that are running out and projects that will come into operation,” Chief Executive Office Andre Sougarret said in a statement Tuesday. “But that will leave Codelco prepared for the next 50 years.” (BBG)
  • The Chilean peso has underperformed in recent sessions, with USDCLP grinding back above the 800 handle and closing at 8.10 on Tuesday. Medium term technical parameters are well established. A stronger resumption of gains would refocus attention on key short-term resistance at 837.15, the Mar 17 high. A break of this level would be a bullish development. On the downside, the key bear trigger is unchanged and lies at 776.28, the Feb 3 low.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.