Copper prices continue to plummet and Chile suffers

Faced with the collapse of the reddish metal on the London Metal Exchange, the sting was accentuated in Chile, the world's largest producer and exporter of copper, felt by the application of US tariffs to the China.

In fact, the Copper Commission of Chile (Cochilco) reported that the pound of ore fell by 0.11% today to $ 2.7969. 19659003] According to Diario Financiero's experts, the weakness could continue for the next quarters, in line with the forecasts of the futures market.

The source indicated that derivatives accompanied the price contraction, with a decline of 0.4% for contracts at September, to $ 2 7660, and 0.41% for December, to $ 2.7905.

Goldman Sachs was pessimistic about the price of copper, reducing its price forecast on the pretext that it would be affected by a loss of speed in global growth and the threat of global warming. a trade war between China and the United States.

After a period of almost a year on the rise, with prices easily exceeding three dollars a pound, the collapse of copper was made more and more notorious

The Minister of Finance from Chile, Felipe Larraín, warned that the South Nation must prepare for the impact that the war unleashed by US President Donald Trump can generate in his economy.

in a critical situation, but it is clear that we will have to make budgetary adjustments and move forward on solid foundations if the raging crisis prevails, Larraín emphasized to the local media

. r red Chilean mineral.

oda / ft