Chile's national copper commission (Cochilco) on Tuesday raised its 2021 average forecast for copper prices to $4.23 per pound, up from $4.20 in September. The reason for this year's price increase is higher copper prices.
Copper for March 2022, the most actively traded contract on COMEX, closed at $4.28 / lb on Tuesday. Copper is up 76.40 cents, or 21.74 per cent, so far this year as the transition to a green economy and electrification help boost demand growth.
Cochilco left its 2022 average copper price forecast unchanged at $3.95 a pound.
