Chile trims its 2018, 2019 copper price forecasts

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SANTIAGO – Chile’s state copper agency Cochilco lowered its average copper price prediction for this year by $0.03 to $2.97 per pound on Thursday in its second negative projection in six months.

Cochilco also lowered its 2019 price projection to $3.05 per pound from the $3.10 it predicted in July, saying there would be a continued depression in appetite for the metal because of U.S.-China trade tensions.

It said it expected the price to rise to $3.08 in 2020.

(By Fabian Cambero and Aislinn Laing; Editing by Jason Neely)

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