Chile: Copper prices rise to six-month high in February
March 1, 2012
In February, copper prices rose 1.2% over the previous month to USD 3.89 per pound (equivalent to USD 8,585 per tonne), marking the highest end-of-month value since August 2011. The February increase followed the strong 12.3% jump seen in January, amid positive news concerning the resolution of Europe's debt crisis. Despite the monthly increase, copper prices are still 12.9% below the value observed in the same month last year, virtually unchanged from the 12.7% annual drop recorded in January. The annual decline marked the sixth consecutive negative reading, as dim global growth prospects dampen demand for copper.