Chile's Copper Commission, or Cochilco, has lowered its copper price estimates for 2018 and 2019, while expecting an increase in prices for 2020, the state-run board said on Thursday November 15.
In its quarterly report on the copper market, average copper prices should be $2.97 (297 cents) per lb this year, according to Cochilco, down from a previous $3 per lb forecast in July. The commission expects a $3.05 per lb average in 2019, decreasing from an earlier $3.10 per lb estimate, and a $3.08 per lb average in 2020.Expectations are down because, "trade tensions between the United States and China persist and rising...