Base Metals

Chile Drops Production, Price Forecasts for 2013

Base Metals

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.

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.

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