Chile: Copper prices moderate in September
October 1, 2013
In September, copper prices fell 0.5% over the previous month to an average of USD 3.25 per pound (equivalent to USD 7,159 per tonne), contrasting the 4.1% increase recorded in August. The monthly decline comes as a consequence of Chile's attempt to boost the growth of other existing exports.
In annual terms, average copper prices fell 11.3% in August, marking a deterioration over the 4.3% drop recorded in August.
The Central Bank of Chile expects the price of copper to average USD 3.30 per pound in 2013 and USD 3.05 per pound in 2014. 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