Wednesday, 20 April 2011

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Chile sees high copper prices during next 3 years

  • Wednesday, 20 April 2011
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  • * Deputy minister sees prices staying above 2010 average

    * Copper averaged $3.42 per pound last year (Adds copper prices and official comments)

    SANTIAGO, April 20 (Reuters) - World top copper producer Chile sees copper prices staying above the 2010 average during the next three years, Deputy Mining Minister Pablo Wagner said on Wednesday.

    Copper averaged $3.42 per pound in 2010, according to data compiled by the Chilean government.

    Wagner said average copper prices could spike to around $4.50 per pound in 2011 and $4.70 per pound in 2012 before starting to decline.

    Copper prices in London CMCU3 climbed 1.4 percent to more than $4.28 per pound on Wednesday, helped by expectations of further signs of revival in the U.S. housing sector.

    (Source: http://www.reuters.com/article/2011/04/20/chile-copper-price-idUSN2013223620110420)

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