Copper prices were down Wednesday due to fears of the rapid expansion of the coronavirus. At 0712 GMT, three-month copper on the London Metal Exchange (LME) yielded 0.4% to $ 5,662.50 per ton. The most quoted contract on the Shanghai Futures Exchange (ShFE) lost 0.5% to 45,480 yuan ($ 6,485.28) a ton. Copper prices, used as an indicator of economic health, have been affected as China is the world's largest user of that metal and the main importer of Chilean copper.
Chile's exports fell 17% ($ 2.6 billion) and imports 16.8% ($ 2.1 billion) in the first fifteen days of February, according to official data. Fruit products and food were the most affected export sectors: cherry (-87.6%), hake (-58%), pork (-51.42%), avocado (-35%), blueberries (-15 , 89%). Imports of consumer goods fell 15%, being mobile phones (-53%) and automobiles (-49%) where the impact was greater. Purchases of capital goods also fell 17%.