Chile Commodities

Chile

Chile: Copper prices in May record tenth consecutive annual drop

June 1, 2015

In May, copper prices rose 4.2% over the previous month to an average of USD 2.85 per pound (equivalent to USD 6,294 per tonne), which represented a third consecutive increase. May’s gain followed the smaller 1.7% rise recorded in the previous month.

In annual terms, average copper prices fell 8.7% in May, which followed the steeper 9.5% drop recorded in April. May’s result marked the 10th 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 2.84 per pound in 2015, before moderating slightly to USD 2.85 per pound in 2016.


Author: Teresa Kersting, Economist

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Chile Commodities May 2015

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


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