Chile Expects Bull Market for Copper Next Year

The key country to watch in the copper market is China. It accounts for over 30% of the global imports ($40.8bn in 2019), followed by Germany, which imports one fourth as much.

RIO DE JANEIRO, BRAZIL - The output of the world's most important copper producer, Chile, will likely rise by 0.6% to 5.82 million tons in 2020, state copper commission Cochilco said on Monday, and to 5.99 million tons in 2021. Cochilco estimated that the copper price will average US$ 2.75 per pound in 2020, before rising to US$ 2.90 per pound in 2021.

In August, Cochilco’s price estimate was US$ 2.62 per pound for 2020 and US$ 2.85 per pound for 2021.

Baldo Prokurica, the mines minister, said in announcing the Cochilco . . .

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