Chile: Copper prices rise in December
January 1, 2017
In December, copper prices rose slightly, confirming the mild recovery in prices seen towards the end of 2016. Copper prices averaged USD 2.56 per pound (equivalent to USD 5,642 per ton) in December, representing a 3.5% monthly increase from November’s average price of USD 2.47 per pound. In annual terms, copper prices increased 21.5%, up from November’s 13.6% rise.
The continued rise in copper prices was driven by stronger-than-expected economic data in China, the world’s largest copper importer, as well as by expectations that U.S President-elect Donald Trump will boost infrastructure spending, which should increase demand for the metal.
Author: Oliver Reynolds, Economist