Chile: Copper prices tick up in January
February 1, 2017
Copper prices rose slightly in January, building on the mild recovery in prices seen towards the end of 2016. Copper prices averaged USD 2.61 per pound (equivalent to USD 5,744 per ton) in January, representing a 1.8% monthly increase from December’s average price of USD 2.56 per pound. In annual terms, copper prices increased 28.1% in January, up from December’s 21.5% rise.
The increase in copper prices was driven by continuing positive sentiment regarding China’s economy and the new U.S. administration’s plans for more infrastructure spending, as well as by disruptions at Indonesia’s Grasberg mine and supply issues in Peru.
Author: Oliver Reynolds, Economist