Chile Drops Production, Price Forecasts for 2013

Mining Weekly reported that Chile has cut its copper output forecast for 2013 to 5.53-million tonnes, although overall production is still expected to outpace 2012. They have also adjusted prices lower.

As quoted in the market report:

Cochilco also cut its view for 2013 average copper prices to $3.27/lb from $3.57/lb due to a slowdown in top metals consumer China, the prospect of the US Federal Reserve winding down its economic stimulus programme, and a projected copper surplus in the period 2013-2017.

To view the whole Mining Weekly report, click here.