Chile Commodities

Chile

Chile: Copper prices on upward trend in May

May 1, 2014

In May, copper prices rose 3.3% over the previous month to an average of USD 3.13 per pound (equivalent to USD 6,891 per tonne). May’s increase followed the 0.3% rise observed in April.

A year-on-year comparison corroborates the improvement suggested in the monthly data. In annual terms, average copper prices fell 4.9% in May, which came in above the 7.8% decrease recorded in April. May’s reading marked the softest fall since September 2013.

The Central Bank expects copper prices to be at USD 3.0 per pound in 2014 and USD 2.85 per pound in 2015. FocusEconomics Consensus Forecast panelists expect copper prices to average USD 3.16 per pound in 2014 before moderating slightly to USD 3.04 per pound in 2015.


Author:, Senior Economist

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Chile Commodities May 2014

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


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