The state Chilean commission of Copper (Cochilco) He reported Thursday that his projection of the price of copper for both this year and 2026 is US $ 4.25 La Libra.
The institution explained that high estimates respond to a “Increase in copper demand given the highest requirements of the mineral to supply the development of energy transition and electrical networks“And, on the other,”A restricted offer”
The highest price in history was recorded in 2021 when the copper pound was quoted at US $ 4.22, metal that Chile is the largest world producer.
Cochilco, however, warned that “The persistent geopolitical tensions, the uncertainties about the economic recovery of China, the implementation of tariffs in the US, and the hardening of monetary policy”They could affect the demand for copper and its price.
For this year, Cochilco He estimates that the global copper demand will reach 27.4 million tons, which implies a growth of 3.2%, while supply will grow 2.3% to 27.3 million tons.
Regarding the production of copper in Chile, the entity foresees that this year reach 5.76 million tons, 4.6% more than in 2024, and that by 2026 reaches 5.97 million tons, which represents an increase of 3.6 %.
Chile, where mining represents more than 12% of the national GDP and where large companies such as Codelco, BHP, Anglo American and Antofagasta Minerals operate, will be seconded by the Democratic Republic of the Congo, with a production of 3.3 million tons, according to Cochilco.
Source: Gestion
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