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Refined copper exports soar

ZAMBIA’S exports of refined copper in the first quarter increased to 464,800 metric tonnes from 463,700 metric tonnes in the same period last year. Copper is the country’s major foreign exchange earner and is currently trading at US$9,759 a tonne on the London Metal Exchange (LME). Zambia Statistics Agency (ZamStats) interim statistician general Mulenga Musepa said export earnings from refined copper in March increased by 3.8 percent to K13.9 billion from K13.4 billion in February this year.

“The cumulative volume of refined copper exported for March was 230,500 metric tonnes while that of 2021 for the same period was 228,000 metric tonnes, representing a 1.1 percent increase,” Mr Musepa said on Wednesday during a media briefing. He said copper prices on LME market for the corresponding months increased by 3.4 percent to US$10,237.6 a tonne in March from US$9,941.4 a tonne in February. Mr Musepa also said Zambia’s major export products in March were from the intermediate goods category mainly comprising copper anodes and electro-refined copper cathodes (high purity) accounting for 90.9 percent. During the period under review, Mr Musepa said the major export destination was Switzerland, which accounted for 41.7 percent. The main export product to Switzerland was copper anodes for electrolytic refining accounting for 75.5 percent of total export earnings. Mr Musepa said China was

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