Chile: Copper prices increase in August
September 2, 2013
In August, copper prices increased 4.1% over the previous month to an average of USD 3.26 per pound (equivalent to USD 7,193 per tonne). The increase comes amid stronger demand from China, a key importer of Chilean copper. Moreover, the figure contrasted the 1.3% fall recorded in July.
In annual terms, average copper prices fell 4.3% in August, marking an improvement over July's 8.9% decrease.
Consensus Forecast panelists expect copper prices to average USD 3.54 per pound this year before moderating to USD 3.42 per pound next year.
Author: Dirina Mançellari, Senior Economist