Commission Chilena del Cobre (Cochilco) acts as an advisor to the Chilean government through the Ministry of mining, focused on copper and its by-products.
(That’s an ‘in a nutshell’ description.)
Cochilco average copper price forecast
- for 2021 US$4.20/lb (was US$4.30/lb previously, this projection made 3 months ago)
- for 2022 unchanged at US$3.95/lb
Cites:
slower growth in the Chinese economy
and therefore copper import falls
China’s policy to sell copper reserves
US Federal reserve to taper stimulus
On the other hand:
- expectations of economic recovery
- low inventories
- limited supply
- labour disputes
Cochilco predicts a supply deficit for 2021 and a surplus for 2022
- global copper demand will rise this year and next