Chile Commodities June 2017

Chile

Chile: Copper prices tick up in June

July 4, 2017

Copper prices rose in June, stopping a run of three consecutive monthly price falls. Copper prices averaged USD 2.59 per pound (equivalent to USD 5,707 per ton) in June, representing a 1.8% monthly rise from May’s average price of USD 2.54 per pound. In annual terms, copper prices increased 22.9% in June, up from May’s 19.0% rise.

The rise in prices last month was underpinned by poor weather in the north of Chile which caused temporary suspensions of activity at several mines, including Escondida. Output at the Escondida mine is taking a while to recover to pre-strike levels, while labor unrest has flared at the large Grasberg mine in Indonesia, leading to further concerns about global supply disruptions.

Panelists participating in the LatinFocus Consensus Forecast expect copper prices to average USD 2.55 per pound in 2017 and USD 2.62 per pound in 2018.


Author:, Economist

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Chile Commodities June 2017 0

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


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