Chile cuts copper price forecast

Print this page Posted on : 11-26-2008 by recycleinme.com

Chile, the world's biggest copper supplier, cut its price forecast for the metal next year by more than half. Copper will average $1.60 a pound in 2009, less than a previous forecast of $3.40 a pound, the state-run Chilean Copper Commission said on Monday in a statement on its Website. Copper this year will average between $3.15 and $3.20, compared with a previous estimate of $3.70, the group said.

Source : Business Line