Chile Commodities

Chile

Chile: Copper prices rise for the first time in 19 months

August 1, 2014

In July, copper prices rose 4.3% over the previous month to an average of USD 3.23 per pound (equivalent to USD 7,113 per tonne). July’s increase contrasted the 1.0% decrease observed in June.

In annual terms, average copper prices rose 3.0% in July, which contrasted the 2.6% decrease recorded in June. July’s reading marked the first increase in annual copper prices since January 2013.

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 July 2014

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


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