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Copper prices seen up in next two years - Cochilco
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8th October 2009
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Copper prices are seen rising steadily to reach an average of $2,86 a lb in 2011, according to a poll released on Thursday by the influential Chilean copper think tank Cochilco.

The poll of 19 industry experts calculated copper averaging $2,68 a lb next year with a possible high of $3,15 a lb.

Cochilco's own forecast had prices averaging $2,10/lb next year.

Both predictions are still far from last year's record high of more than $4 a lb as analysts remain cautious about the global economic recovery even though copper prices have rebounded around 90% so far this year.

Tough labor negotiations in top producer Chile and other countries across the world have raised the specter of strikes that could further lift the value of copper.

The poll saw copper prices averaging $2,65 between October and December of 2009.

Edited by: Reuters
 
 
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