Cochilco raises its projection for the price of copper to $2.62 for 2020

The state-run Chilean Copper Commission (Cochilco) raised its forecast for the price of copper for this year to $2.62 a pound, amidst a gradual recovery after the impact of COVID-19. In April, Cochilco had projected a price of $2.40 for 2020. Due to the uncertainty, Cochilco does not rule out that the price may finally be higher than projected, but it does not expect the price to be above $3.00. By 2021, Cochilco expects the metal to average about $2.85 per pound, down from the $2.90 forecast in April.

Source: Reuters