Chile Commodities

Chile

Chile: Copper prices continue downward spiral in July

August 1, 2015

In July, copper prices fell 6.5% over the previous month to an average of USD 2.48 per pound (equivalent to USD 5,457 per tonne), which represented a second monthly decrease, but was a slightly softer drop than June’s 7.3% contraction.

In annual terms, average copper prices fell 23.35% in July, which followed the milder 14.5% drop recorded in June. July’s result marked the 12th consecutive annual decline and the steepest drop in prices since July 2009.

The Central Bank expects copper prices to average USD 2.9 per pound in 2015. FocusEconomics Consensus Forecast panelists expect copper prices to average USD 2.73 per pound in 2015, before increasing slightly to USD 2.74 per pound in 2016.


Author: Teresa Kersting, Economist

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Chile Commodities July 2015

Note: Cash seller and settlement price.
Source: Thomson Reuters.


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