Cochilco holds 2019 copper forecast at $3.05/lb

Chile's Cochilco State copper commission on Thursday held its estimate for the price of copper at $3.05/lb, 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-t deficit in the global market for 2019, dropping to 202 000 in 2020.