Chile Commodities

Chile

Chile: Copper prices in June register 11th consecutive annual drop

July 1, 2015

In June, copper prices fell 7.3% over the previous month to an average of USD 2.65 per pound (equivalent to USD 5,833 per tonne), which represented a first monthly decrease after three consecutive increases and contrasted the 4.2% gain registered in May.

In annual terms, average copper prices fell 14.5% in June, which followed the milder 8.7% drop recorded in May. June’s result marked the 11th consecutive annual decline in prices.

The Central Bank expects copper prices to average USD 2.9 per pound in 2015. FocusEconomics Consensus Forecast panelists expect copper prices to average USD 2.85 per pound in 2015, before increasing slightly to USD 2.86 per pound in 2016.


Author: Teresa Kersting, Economist

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