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Copper Commission Lowers Price Forecast

CHILE
  • Chile's copper commission has lowered its forecasts for prices of the red metal, citing slowing Chinese economic growth, a contraction in Europe and doubts about U.S. expansion.
  • Cochilco, reduced its 2023 projection to $3.85/pound from a $3.90 projection made a quarter ago, the agency wrote in a statement Wednesday.
  • The average price is then expected to fall to $3.75 in 2024.

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