Chile Commodities

Chile

Chile: Copper prices drop in August

September 2, 2014

In August, copper prices fell 1.5% over the previous month to an average of USD 3.18 per pound (equivalent to USD 7,006 per tonne). August’s decrease marked the largest drop in five months and contrasted the 4.3% increase observed in July.

In annual terms, average copper prices fell 2.6% in August, which contrasted the 3.0% increase recorded in July. July’s result had marked the first increase in annual copper prices since January 2013.

The Central Bank expects copper prices to average USD 3.0 per pound in 2014 and USD 2.9 per pound in 2015. FocusEconomics Consensus Forecast panelists expect copper prices to average USD 3.14 per pound in 2014, before moderating slightly to USD 3.04 per pound in 2015.


Author:, Senior Economist

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Chile Commodities August 2014

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


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