Chile: Copper prices drop in 2011
January 2, 2012
In December, copper prices rose 2.0% over the previous month to USD 7,554 per tonne (equivalent to USD 3.43 per pound), contrasting the 6.3% drop seen in November. However, on annual terms, copper prices fell 22.4% in 2011, as the Eurozone debt crisis weighed on global growth prospects and dampened demand for copper. With the annual drop, copper prices marked the first year-end decline in three years, contrasting the 32.6% gain in 2010 and the staggering 153.1% increase witnessed in 2009, when surging demand from China caused copper prices to skyrocket.