Chile: Copper prices drop in March
April 1, 2012
In March, copper prices dropped 1.2% over the previous month to USD 3.85 per pound (equivalent to USD 8,480 per tonne), losing the ground gained in February on the back of concerns over prospects for demand from China. The March reading contrasted the 1.2% increase in February which marked the highest end of month value since August 2011. As a result of the monthly drop, copper prices are still 9.8% below the value observed in the same month last year, slightly up from the 12.9% annual drop recorded in February. The annual decline marked the seventh consecutive negative reading, as dim global growth prospects dampen demand for copper.