Chile Commodities December 2016

Chile

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.

Panelists participating in the LatinFocus Consensus Forecast expect copper prices to average USD 2.36 per pound in 2017 and USD 2.32 per pound in 2018.


Author:, Economist

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Chile Commodities January 2016 0

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


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