Tuesday, July 14, 2009

Chile sees copper averaging $2/lb in 2009

From Reuters:
World copper prices could average about $2 per pound in 2009, Chile's Mining Minister Santiago Gonzalez said on Monday, signaling greater market stability after the red metal plunged from record highs.

"The price this year depending on international conditions in China and India should stay at around $2," Gonzalez said.

Gonzalez' $2 prediction is still a far cry from records of $4 a lb nearly a year ago.

The world's top copper producer could see its output rise by as much as 4 percent this year from 2008, he added....MORE