Chile: Copper prices remain high in January
February 1, 2011
In January, copper prices dropped 0.2% over the previous month, closing the month at USD 9,720 per tonne (equivalent to USD 4.41 per pound). At the current level, copper prices are barely unchanged from the all-time high USD 9,740 per tonne recorded in December 2010 and are 41.8% higher than in the same month last year. The slight fall in January was mainly due to the fading effects of the supply disruptions in Chile, which pushed prices higher in December. Nonetheless, copper prices remain high on the back of an improving demand outlook, as stronger manufacturing growth in China bolsters metals consumption.