Banco de Chile received in less than 24 hours 42,282 requests for rescheduling of mortgages or consumer credit loans. The applications are within the framework of the initiatives announced by the private banks for their clients due to the contingency of the Coronavirus.
According to information sourced by Wines of Chile, the country’s wine industry has been able to harvest “under normal conditions” while production facilities are allowed to operate as usual, but with specific healthcare measures in place. Agriculture was identified as a “critical sector” for the country and industry workers have been issued with special permits that give them the right to move around Chile and attend their workplace.
Chile's economic activity grew 2.7% in February from a year ago, reported the Central Bank. The bank's IMACEC economic activity index rose 0.6% from the previous month, as the country bounced back from five months of mass protests. Mining activity increased 2.2% from the previous month while non-mining activity increased 0.4%, driven by growth in the manufacturing and construction sectors.
In March, average copper prices fell to their lowest point since July 2016 as Covid-19 continued to rattle commodity markets. On average, prices for the red metal logged USD 5,183 per ton (equivalent to USD 2.35 per pound), down from February’s average price of USD 5,688 per ton (equivalent to USD 2.58 per ton). Meanwhile, prices were 19.5% lower than in the same month of 2019.
The National Petroleum Company (Enap) announced an "additional exceptional reduction for 93 and 97 octane gasoline". Enap stated that "the import parity price for this week results in a drop in the price of 93 gasoline from $25.3 per liter," while 97-octane gasoline will decrease by $18.5 per liter. Diesel will fall $6.0 per liter and liquefied gas for vehicle use will fall $6.1 per liter.