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Chile's copper production could increase by 0.
6 percent in 2020 to 5.
82 million mt and reach 5.
99 million mt
in 2021, Chile's national copper commission Cochilco said on Monday.
Cochilco estimates that copper prices will average $2.
75 a pound in 2020 before rising to $
2.
90 a pound in 2021.
In August, Cochilco's price forecast was $2.
62 per pound in 2020 and $2.
85 per pound in 2021
.
Chile's mining minister, Baldo Prokurica, said in announcing the data on Monday that the higher price estimate was due to positive expectations of Chinese demand, an economic recovery, falling copper inventories and an increased
likelihood of widespread availability of a coronavirus vaccine in the first six months of next year.
Cochilco market coordinator Victor Garay said the forecast depends on a second wave of high waves that the virus may generate, which could lead to restricted movement and impact production and demand
.
Chile's copper production could increase by 0.
6 percent in 2020 to 5.
82 million mt and reach 5.
99 million mt
in 2021, Chile's national copper commission Cochilco said on Monday.
Cochilco estimates that copper prices will average $2.
75 a pound in 2020 before rising to $
2.
90 a pound in 2021.
In August, Cochilco's price forecast was $2.
62 per pound in 2020 and $2.
85 per pound in 2021
.
Chile's mining minister, Baldo Prokurica, said in announcing the data on Monday that the higher price estimate was due to positive expectations of Chinese demand, an economic recovery, falling copper inventories and an increased
likelihood of widespread availability of a coronavirus vaccine in the first six months of next year.
Cochilco market coordinator Victor Garay said the forecast depends on a second wave of high waves that the virus may generate, which could lead to restricted movement and impact production and demand
.
