Chile Commodities

Chile

Chile: Copper prices record fourth consecutive drop

December 2, 2014

In November, copper prices fell 0.4% over the previous month to an average of USD 3.04 per pound (equivalent to USD 6,713 per tonne). November’s decrease followed the 2.0% drop recorded in October and marked the softest drop in four months.

In annual terms, average copper prices fell 5.1% in November, which followed the 6.5% drop recorded in October. November’s result marked the fourth consecutive drop in annual prices.

The Central Bank expects copper prices to average USD 3.0 per pound in 2014 and USD 2.9 per pound in 2015. FocusEconomics Consensus Forecast panelists expect copper prices to average USD 3.14 per pound in 2014, before moderating slightly to USD 3.04 per pound in 2015.


Author:, Senior Economist

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Chile Commodities November 2014

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


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