Chile: Copper prices fall in April amid slower growth in China
May 1, 2013
In April, copper prices dipped 5.4% over the previous month to an average of USD 3.28 per pound (equivalent to USD 7,234 per tonne) as the slowdown in China's economy, which could lead to reduced demand for the red metal, fuels worries of excess supply from Chile's mining industry. The monthly decline followed the 5.2% increase registered in March.
Moreover, in annual terms, average copper prices fell 12.8% in April, after the 9.7% decrease seen in March.
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.