In the frame of her visit to the Asia Copper Week, developed in Shanghai, China, the minister of mining, Aurora Williams, referred about the trend that the copper price has been showing on the last weeks, reaching US$2.13 per pound of copper this Tuesday. Scoring the lowest price since May of 2009.
Williams sustained that this cicle of fall in price of the mineral, responds to the proximity of that the FED begins the cicle of rise of the rates of interest in the United States, which mantain the appraising pressure of the dollar and in consequence, the drop of the copper price.
However, the minister, pointed out that it’s about an effect of short-term, but could be aggravated in December whenever the meeting of monetary policy of the Federal Reserve gets closer.
Regarding to the Chinese Economy, the minister expressed that even when the doubt remains related to if the Chinese Economy would hit bottom or can become steady, Williams anticipated that the red metal could be recover on 2017 due to the increase of the Chinese demand of 1%.
