The Chilean mining Minister: copper price is expected to rise next year

- Nov 03, 2017-

On October 31st, Aurora Williams, Chile's mining minister, said on Tuesday that the average copper price was expected to be $2.95 per pound next year, higher than $2.77 this year, due to continued supply shortages.

Williams said that the market supply shortage forecast this year will be adjusted to 60 thousand tons, and it is expected that the shortage will continue until 2018, reaching its peak in the second half of this year.

Williams said it was optimistic about the outlook for copper prices, but said it would not return to a high of $4 a pound in the foreseeable future at 2011.

She said, the future ten years copper prices could reach $3.00-3.20 per pound.

Williams said that Chile's copper production is expected to be 5 million 500 thousand tons this year, and the production will reach 6 million 300 thousand tons in the next ten years as the new project is put into production.

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