The average price of copper this year will be $4.45 per pound, in 2026 - $4.55 per pound, the Chilean state copper commission (Cochilco) predicts.
Previously expected $4.3 per pound both this year and next, the commission said.
Prices for the metal are also projected to continue rising until at least 2030, as supply lags demand, the commission said. Cochilco mining coordinator Victor Garay. He noted that risks such as changes in import duties and demand remain.
World copper production in 2025 is expected to be 22.9 million tons, and in 2026 will increase to 23.8 million tons.
"Adjustments to the upward forecast for copper prices for the current and subsequent years are due to a reduction in the supply of copper on the market, the expectation of a reduction in interest rates from the Federal
