Chile Commodities


Chile: Copper prices end 2015 at over-six-year low

January 1, 2016

Concerns over a slowdown in China—the global top consumer of copper—an appreciating U.S. dollar and an increased commodity supply triggered a sell-off in copper and other major commodities. Prices for copper and oil, and also for gold and other raw materials, have seen new lows recently.

In December, copper prices continued to decline and fell to the lowest level since May 2009, averaging USD 2.11 per pound (equivalent to USD 4,643 per tonne). This represented a 3.3% monthly drop from November’s average copper price of USD 2.11 per pound. In annual terms, copper prices fell a steep 27.9% in December (November: -28.5% year-on-year), marking the 17th consecutive fall. In the full year 2015, copper prices tallied an average price of USD 2.50 per pound, which marked the lowest value since 2008.

Panelists participating in the LatinFocus Consensus Forecast expect copper prices to average USD 2.12 per pound in 2016 and USD 1.85 per pound in 2017.

Author: Teresa Kersting, Economist

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Chile Commodities Chart

Chile Commodities December 2015

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

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