Chile Commodities September 2016

Chile

Chile: Copper prices remain subdued in October

In October, copper prices increased following two consecutive drops and averaged USD 2.15 per pound (equivalent to USD 4,731 per ton). This represented a soft 0.2% monthly increase from September’s average price of USD 2.14 per pound. In annual terms, copper prices dropped 9.3% in October (September: -9.5% year-on-year), marking the 27th consecutive annual fall.

Since dropping to an over six-year low in January, copper prices have been hovering at low levels. Concerns over a slowdown in China—the world’s top copper consumer—and excess supply have been driving a sell-off of copper and other major commodities, pushing their prices down over recent years.

Panelists participating in the LatinFocus Consensus Forecast expect copper prices to average USD 2.16 per pound in 2016 and USD 2.23 per pound in 2017.


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Chile Commodities September 2016 0

Note: Cash seller and settlement price.
Source: London Metal Exchange (LME).


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