Cochilco raises average copper price forecast for 2023
Time:Mon, 08 May 2023 09:02:09 +0800
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The Chilean Copper Commission (Cochilco) raised its average copper price forecast for 2023 to US$3.90 per pound, higher than the US$3.85 per pound estimated in January, on grounds of the weaker US dollar, potential supply risks, and an expected 5% growth in China’s economy.
However, Cochilco added that the average copper price would slide to US$3.80 per pound next year.
Separately, Citi analysts lowered their 0-3-month price forecast of copper to US$8,000 per ton, dropping from the previously expected US$8,500 per ton.
