World’s Largest Copper Supplier Is Optimistic About Demand
- Chile government estimates 200,000 tons will be lost this year
- Agency says prices could average more than $2.50 a pound
Trucks transport minerals inside an open pit copper mine near Calama, Chile.
Photographer: Cristobal Olivares/BloombergThis article is for subscribers only.
Copper traders are being bombarded with possible price drivers right now -- from $1 trillion in U.S. infrastructure spending to a second wave of Covid-19 in China. For Chile’s official forecaster, the upshot is cautiously optimistic.
Prices probably will average more than $2.50 a pound this year, according to Marco Riveros, who heads government agency Cochilco. So far this year, the average has been just below that level.