Chile: Copper prices drop in October
November 1, 2012
In October, copper prices fell 0.3% over the previous month to an average of USD 3.66 per pound (equivalent to USD 8,062 per tonne), which contrasted the 7.6% increase seen in September. The monthly drop came on the back of heightened uncertainty before the elections in the United States and China's leadership transition. Despite the monthly drop, copper prices jumped 9.0% in annual terms, partially due to a favourable base effect since prices fell 10.8% in the same month last year. The reading contrasted the 2.6% drop recorded in September.