Chile posted a trade surplus of $904 million in August, the Central Bank said, with a drop in levels versus a year earlier of both exports and imports for the month. The world's largest copper producer also saw the value of shipments of the red metal fall 13.2% year-on-year in August to $2.761 billion, hit by a dip in production and low prices. The country's total monthly exports fell 10.8% year-on-year to $5.421 billion, while imports fell 22.4% to $4.517 billion.
Chile, which had managed to maintain production near pre-pandemic levels, reported copper shipments of $2.76 billion for August, an 11% drop from July, according to trade data released by the country’s Central Bank. That’s the steepest decline since January. Average copper futures in August were slightly higher than July which indicates an even steeper drop in August production.
The state bank of Chile, Banco del Estado, announced the closure of all its branches after suffering an unprecedented cyber attack in the country over the weekend and official sources point to a possible "data hijacking". The president of the institution, Sebastián Sichel, assured that has not affected the funds or customer accounts. The bank filed a complaint with the Chilean Investigative Police (PDI) in addition to deploying its operational cybersecurity teams.
FX broker, Libertex Group, has promoted Gabriel Peñailillo Alvial to take on an expanded role as the company’s Country Head in Chile. Gabriel has stepped into his new role this month, barely 4 months after he joined the firm as Partnership Manager, according to information made public on his LinkedIn profile. He will help solidify Libertex operations in the LATAM region as well, bringing several years of expertise in the FX space to the role.
Chilean salmon producers are looking to start their comeback into China after Chinese consumers and retailers shunned Chilean salmon products, following the discovery of COVID-19 on the chopping board of a seller of imported salmon at Beijing's main wholesale seafood market, according to the president of trade group SalmonChile, Arturo Clement. Chilean salmon was never officially banned from China, but was forced to undergo a series of tests at ports. When supermarkets stopped stocking imported salmon and shoppers shunned it, producers took the decision to take a break from the market.