12 hours ago
Chile to Cut Copper Prices in Sign of Global Economic Slowdown
A copper processing facility in Chile (Cristobal Olivares/Bloomberg News)
Chile, the world´s top copper producer, is preparing to slash its official price estimate for 2025, another worrying sign for the global economy.
The Chilean government now estimates the average price will be between $3.90 and $4 a pound, down from a projected $4.25 a pound for the year, according to a person familiar with the preliminary calculations. Chile will publish its revised 2025 price estimate at the end of April.
Stock-piling by the U.S. ahead of the tariff blitz drove the copper price to a record high in the United States. Copper prices are now sliding along with oil and other commodities in anticipation of a global downturn. Chile accounted for 24% of global copper production last year.
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