Chile Commodities

Chile

Chile: Copper prices fall at softest rate in 17 months

July 1, 2014

In June, copper prices fell 1.0% over the previous month to an average of USD 3.09 per pound (equivalent to USD 6,821 per tonne). June’s decrease contrasted the 3.3% increase observed in May.

A year-on-year comparison does not corroborate the deterioration suggested in the monthly data: In annual terms, average copper prices fell 2.6% in June, which came in above the 4.9% decrease recorded in May. June’s reading marked the softest fall since January 2013.

The Central Bank expects copper prices to average USD 3.0 per pound in 2014 and USD 2.85 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 May 2014 0

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


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