Chile Commodities January 2017

Chile

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.

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 2017

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


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