Chile Commodities

Chile

Chile: Copper prices record eighth consecutive annual drop

April 1, 2015

In March, copper prices rose 3.7% over the previous month to an average of USD 2.69 per pound (equivalent to USD 5,940 per tonne), which represented the first increase in eight months. March’s increase contrasted the 2.1% drop seen in the previous month.

In annual terms, average copper prices fell 10.7% in March, which followed the 19.9% drop recorded in February. March’s result marked the eighth consecutive decline in annual 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 3.14 per pound in 2015, before moderating slightly to USD 3.04 per pound in 2016.


Author:, Senior Economist

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Chile Commodities March 2015

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


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