Chile: Copper prices drop sharply in September
October 1, 2011
In September, copper prices plunged 22.5% over the previous month to USD 7,132 per tonne (equivalent to USD 3.24 per pound), following the 5.5% drop in August. The print marked the sharpest drop in copper prices since October 2008, when prices plummeted 37.8% following the collapse of Lehman Brothers. Copper prices are coming down as slowing global economic growth eased copper demand. As a result of the September price drop, copper prices fell 11.4% over the same month last year, the first year-on-year drop since September 2009.