Cochilco raises projection of 2021 copper price to $3.30 per pound

The state-run Chilean Copper Commission (Cochilco) has raised its projections for the price of copper in 2021 to $3.30 per pound. Cochilco expects a copper deficit in the global market of 70,000 tonnes, representing an almost balanced market, while by 2022 it saw a surplus of 116,000 tonnes. Cochilco also projected a production volume of about 6 million tonnes for Chile in 2021, representing a year-on-year increase of 3.6%.

Source: Nasdaq