Chile Commodities

Chile

Chile: Copper prices record fifth consecutive drop

January 1, 2015

In December, copper prices fell 4.1% over the previous month to an average of USD 2.92 per pound (equivalent to USD 6,439 per tonne). December’s decrease followed the 0.4% drop recorded in November and marked the steepest drop in five months.

In annual terms, average copper prices fell 10.8% in December, which followed the 5.1% drop recorded in November. December’s result marked the fifth consecutive drop 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 December 2014 0

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


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