Chile, as the country with the largest copper reserves in the world, straightened its environmental policies in recent years, which made a great impact on local copper mining companies.

The Superintendency of Environment (SMA) of Chile imposed a fine of US$1.2 million on environmental violations at the Quebrada Blanca copper mine in Teck Resources recently.

Codelco's Chuquicamata smelter has been shut down since last December for an upgrade to meet new emission standards, and the restart time would be about the end of October.

Both the tight supply pressure of overseas copper concentrates this year and the increase in the interference rate of copper mines further aggravated the expectation of copper concentrate shortage and gave strong bottom support to copper price.