Chile: Copper prices remain stable in February
February 28, 2013
In February, copper prices added a paltry 0.2% over the previous month to an average of USD 3.66 per pound (equivalent to USD 8,061 per tonne). The monthly rise followed the 1.2% increase seen in January.
That said, in annual terms, average copper prices fell 4.5% in February, which contrasted the 0.1% increase seen in January. The Chilean Copper Commission (Cochilco) expects copper prices to average USD 3.57 per pound this year and to drop to USD 3.32 per pound in 2014.
Consensus Forecast panellists expect copper prices to average USD 3.54 per pound this year before moderating to USD 3.42 per pound next year.