Skyline in Chile

Chile Commodities June 2021

Chile: Copper prices fall in June

Copper prices took a hit in June, coming in at USD 9631.5 per ton on average, down from May’s USD 10150.2 per ton. However, prices were 67.4% higher than in the same month last year and 21.0% higher year-to-date.

June’s losses were caused by China’s announcement that it will gradually sell some of its state reserves of copper in a bid to limit the recent surge in prices. In addition, the Fed’s hawkish turn at its June meeting supported the USD and weighed further on prices for the red metal.

Although copper prices are seen dipping by year-end, they should average much higher this year than last, thanks to sustained demand—especially from sectors such as electric vehicles and green-energy projects—and supply disruptions. Proposed mining royalties in Chile and Peru and concerns over strikes at major mines in Chile pose upside risks.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest