Copper on the London Metal Exchange (LME) has increased by more than 40% since touching a 45-month low in March, driven by fears that the COVID-19 pandemic will curb mine production in Chile. LME benchmark copper had gained 0.8% to $6,237 a tonne, the highest since January 21.
Consumer prices in Chile fell 0.1% in June due to declines in transportation and healthcare, according to the government. In a new month impacted by the confinement measures imposed against the coronavirus, the National Statistics Institute (INE) said that inflation advanced 2.6% in 12 months, at the bottom of the Central Bank's tolerance range, between 2.0-4.0%.
Peru and Chile have signed an agreement to implement electronic certification in agro-export procedures between the two countries. This system, for exchanging information on phytosanitary conditions and the safety of agricultural products, will speed up the procedures for exporting as well as importing plants and plant products.
Renault Samsung Motors it will export the first batch of 83 units of its sport utility vehicle XM3 manufactured at its Busan plant to Chile, pushing ahead with its overseas expansion. The company said the vehicles will be shipped on July 25 to be displayed at showrooms in the South American country, offering test drives for customers. By the end of the year, the company plans to export 57 more units to Chile.
The Superintendency of Pensions delivered a new weekly balance regarding the Employment Protection Law, reporting that the number of workers covered by the regulations amounted to 676,819. According to the report, the figure represents an increase of 1.9% compared to the previous week, which shows a lower weekly growth in the number of workers covered by the regulations since the programme began in April.