April 18, 2019 / 1:57 PM / a month ago

Chile's Cochilco holds 2019 copper forecast at $3.05/lb

SANTIAGO, April 18 (Reuters) - Chile’s Cochilco state copper commission on Thursday held its estimate for the price of copper at $3.05 per pound, rising slightly to $3.08 for 2020 on improving prospects for growth in China.

Cochilco said it saw production in Chile, the world´s top copper producer, at 5.96 million tonnes for 2019 and just above 6 million tonnes in 2020. The agency expects a 208,000 tonne deficit in the global market for 2019, dropping to 202,000 in 2020.

Reporting by Fabian Cambero, writing by Dave Sherwood Editing by Chizu Nomiyama

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