Costs Are Falling Fastest In A Quarter-Century For Copper

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Costs Are Falling Fastest In A Quarter-Century For Copper

It’s a big day for copper. With workers at Escondida, Chile — the world’s largest mine – having signaled they intend to start strike action today, earlier than expected.

That would likely mean upward pressure on prices. Which could be very good news for copper miners, especially in light of new research this week – which shows production costs are falling exceptionally fast in the global copper sector.

That work comes from metals industry experts CRU Group. Who released a study Tuesday detailing production costs at copper mines around the world over the past year.

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CRU’s analysis found that the average cash cost of production for the global copper sector fell a full 13% during 2016. To near $2.40/lb, from just under $2.80/lb in 2015.

The chart below from the research summary