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【Ferro-alloys.com】:Peru’s mining exports fell in the first eight months, the first accumulated year-on-year drop in 2022.

Lower copper exports to the European Union and South Korea, which fell over 30%, partly explain the contraction. Copper exports to Japan fell 12.4%.

According to the latest report from the foreign trade and tourism ministry (Mincetur), mining exports fell 12.4% year-on-year in August to US$3.09bn and 0.6% in the first eight months to US$23.9bn.

Mining exports grew 2.4% between January and July, year-on-year.

Copper exports to the EU fell 30.6% from US$1.15bn in January-August 2021 to US$796mn in the same months this year. The economic slowdown in the region explains the fall, the report said.

Red metal exports to South Korea dropped 38.2% from US$829mn to US$512mn. In the case of Japan, exports fell from US$905mn to US$793mn.

Copper exports to China, on the other hand, grew 7.3% US$9.69bn. Iron ore exports to the Asian giant, however, fell 23.5% to US$1.21bn.

In August alone, copper exports fell 7.4% year-on-year to US$1.80bn, those of gold 8.4% to US$619mn, zinc 18% to US$227mn, and iron ore 43.3% to US$138mn, according to the report.

Since growing 7.7% between January and June, Peru’s copper exports have slowed down sharply and rose just 1.2% between January and August to US$13.1bn.

Iron ore exports fell 24% in the first eight months to US$1.24bn, while those of gold dropped 1.3% to US$5.08bn.

• [Editor:Alakay]