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Copper achieves its best price since the beginning of 2016

ARCHIVO | Osvaldo Villorroel | Agencia UNO
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With the rise of 1.58%, the copper price closed an intense day at the London Metal Exchange, reaching US$2.08902 per pound, from the US$2.05659 of the previous close. Scoring its second best price of the year.

This minor recovery was influenced by the expectations between the operators to counteract the weakling Chinese demand.

With this present variation, the future price has been estimated in US$ 2.086 per pound and an average annual price of US$2.081.

According to agencies’ information, the investors estimate that the fall in price of the red metal during the last months could force companies to modify their plans for this year to counteract the weakly demand that is expected from China.

Chile is the main copper producer worldwide, and along January, the price achieved its worst fall in almost seven years, dragged by the Chinese deceleration, the main buyer

Facing this scenario, Chile has closed 2015 , with a GDP growth of 2%.

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