Chile Commodities

Chile

Chile: Copper prices fall at fastest year-on-year rate in six months

November 3, 2014

In October, copper prices fell 2.0% over the previous month to an average of USD 3.06 per pound (equivalent to USD 6,737 per tonne). October’s decrease followed the 1.9% drop recorded in September and marked the largest drop in three months.

In annual terms, average copper prices fell 6.5% in October, which followed the 4.0% drop recorded in September. October’s result marked the fastest drop in six months.

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 October 2014 0

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


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