Copper suffers drop on LME

LAST month, the country posted a decrease in export value of metals to almost K5.6 billion from about K5.7 billion recorded in October 2018 due to the drop of copper price on the international market.
Copper, which is Zambia’s major export earner, has witnessed a drop on the London Metal Exchange (LME) market, trading below US$6,000 per tonne in the past few months.
Data from Central Statistical Office (CSO) shows that the overall contribution of metals and their products to the total export earnings in November 2018 and October 2018 averaged 70.1 percent in revenue earnings.
“Traditional exports earnings decreased by 2.5 percent from K5,799.2 million in October 2018 to K5,654.4 million in November.

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