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Peru April metals exports hit by falling prices, shipments

19 June 2019

 

Peruvian export revenue from five major metals all dropped in April due to slumping prices and lower shipments, the government reported.

 

Total monthly metals export revenue declined 3.7% to US$2.29bn in April, cutting total exports by 2.3% to US$3.72bn, the central bank said in a statement. Peru’s trade surplus narrowed to US$259mn compared with a US$340mn trade surplus for April 2018, as imports slid 0.2% to US$3.46bn.

 

Gold exports fell 10.1% to US$571mn, as a 6.6% drop in shipments to 444,500oz was followed by a 3.7% drop in prices to US$1,285/oz from US$1,335/oz in April last year, the bank said. Silver exports plunged by half to US$5mn as both prices and shipments fell.

 

Exports of steel and refined metals were down 12.7% to US$107mn and foreign shipments of metallic products fell 3.7% to US$43mn, the bank said.