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Peru metals export revenue drops on lower volumes, prices


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Nigeria

July.11.2014

Peru's metals posted declines in export revenue in May on lower volumes and prices, with silver and molybdenum the exceptions, the government said

Total metals export revenue in May slumped 30.2% year-on-year to US$1.44bn, helping widen Peru's trade deficit to US$746mn from US$272mn a year earlier as total exports dropped 22% to US$2.75bn, the country'scentral bank said in a statement on its website.

Copper exports fell 15% to US$729mn as Peru shipped 117,600t of the red metal at US$2.813/lb in May, compared with 122,800t at US$3.167/lb a year earlier.

Gold shipments halved to 257,000oz from 532,500oz, with export revenue plummeting 56% to US$331mn as the price of gold fell to US$1,287/oz from US$1,413/oz.

Zinc exports slid 1.8% to US$107mn on lower shipments, while lead export revenue dropped 43.5% to US$104mn as both volume and prices declined, the bank said. Tin dropped 46.3% to US$24mn as prices and shipments halved. Iron ore fell 5% to US$76mn on lower prices.

Silver exports doubled to US$36mn as a 150% jump in shipments offset an 18.6% decline in prices, while molybdenum jumped 65.4% to US$34mn as both prices and shipments rose.

Peru is the world's third largest copper, zinc and tin producer and No. 6 in gold.

Article Credit: Bnamericas

Updated 4 Years ago
 

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Tags:     Peru's metals     Volumes and Prices Dropped

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