BHP

Chile's Cochilco sees copper price down 45 cents to $2.4 per pound in 2020

SANTIAGO, April 3 (Reuters) - Chile's Cochilco copper commission on Friday revised its prediction for the 2020 copper price down 45 cents to $2.4 per pound.

Cochilco's estimate came amid a significant downturn in demand principally from Chile's main copper buyer China amid a global outbreak of the new coronavirus.

Cochilco's previous estimate of $2.85 was in January. By 2021, it expects the metal to average around $ 2.90 per pound, lower than the $ 2.95 forecast earlier this year.

(Reporting by Aislinn Laing Editing by Chizu Nomiyama)

((Aislinn.Laing@thomsonreuters.com; +56 223704250;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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