Chile Commodities

Chile

Chile: Copper prices record ninth consecutive annual drop

May 1, 2015

In April, copper prices rose 1.7% over the previous month to an average of USD 2.74 per pound (equivalent to USD 6,039 per tonne), which represented a second consecutive increase. April’s increase followed the 3.7% gain recorded in the previous month.

In annual terms, average copper prices fell 9.5% in April, which followed the steeper 10.7% drop recorded in March. April’s result marked the ninth consecutive annual decline in 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 3.20 per pound in 2015, before moderating slightly to USD 2.83 per pound in 2016.


Author: Teresa Kersting, Economist

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