Chile: Copper prices fall amid uncertain economic developments in Europe
April 1, 2013
In March, copper prices dipped 5.2% over the previous month to an average of USD 3.47 per pound (equivalent to USD 7,646 per tonne) following concerns among investors regarding the European debt crisis and China's tightening control of the property market, which could lead to reduced demand for the red metal. The monthly decline contrasted the 0.2% increase registered in February.
Moreover, in annual terms, average copper prices fell 9.7% in March, which follows the 4.5% fall seen in February.
Consensus Forecast panellists expect copper prices to average USD 3.54 per pound this year before moderating to USD 3.42 per pound next year.