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CHILE: Cochilco Lowers 2024 Copper Price Forecast

CHILE
  • Chile’s copper commission Cochilco lowered its copper price forecast to average $4.18 a pound this year, compared to $4.30 expected previously, due to a weaker demand outlook. The 2025 copper price forecast remains at $4.25.
  • Chilean copper production is forecast to grow 3% to 5.41 million tons this year, reaching about 5.7 million tons next year, Cochilco said.
  • Still, global copper demand is expected to rise 2.1% this year, outpacing production growth of 1.8%

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