Copper to Rally to $3 Once Virus Passes, Chile Minister Says

he deadly coronavirus that’s rattled markets since January won’t stop copper prices from surging to $3 a pound this year, according to Chilean Mining Minister Baldo Prokurica. The price of copper, often used as a barometer for the global economy, has dropped about 7% so far in 2020, signaling demand for the metal used in everything from electronics to automobiles has cooled as investors retreat from riskier assets.

Lower growth in China could reduce Chile’s GDP below 1%

China's GDP could be as low as 4.9%, according to the OECD and that could bring Chile's GDP below 1%. In January, Chile grew at a rate of 1.5%, exceeding expectations, but given the slowdown in the Chinese economy and the dependence on Chilean exports to that market, specialists expect there could be an impact of at least three tenths on GDP. Some 25% of Chilean exports are destined for China.

Santiago’s stock market soars almost 4%.

With a "jump" of almost 4%, the main index of the Santiago Stock Exchange (BCS) ended this Monday, in line with the generalised rebound shown by the main international markets. The IPSA, with 30 more liquid securities on the stock market, gained 3.91% to 4,283.63 units. The IGPA, meanwhile, which follows the general pulse of the market, gained 3.45% to 21,461.73 whole.