Copper prices will rise at least until 2030 — Cochilco

The average price of copper this year will be $4.45 per pound, and in 2026 it will be $4.55 per pound, the Chilean State Copper Commission (Cochilco) predicts.

Previously, it was expected to be $4.3 per pound both this year and next year, the commission said.

It is also predicted that metal prices will continue to rise at least until 2030, as supply lags behind demand, said Cochilco mining industry coordinator Victor Garai. He noted that risks such as changes in import duties and demand remain.

Global copper production in 2025 is expected to reach 22.9 million tons, and in 2026 it will increase to 23.8 million tons.

"Adjustments to the upward forecast of copper prices for the current and subsequent years are due to a reduction in the supply of copper on the market, the expectation of lower interest rates from the Federal Government