Top copper supplier Chile raises price forecast
Top copper supplier Chile raised its price projections for the metal based on the prospect of easing of credit conditions in the US and growing demand in the shift away from fossil fuels.
State copper agency Cochilco said Monday it expects prices to average $3.85 a pound this year, up from a previous call of $3.75. It sees prices averaging $3.90 next year. The metal is currently trading at about $3.78 per pound.