- Turkey Day 101: How Well Do You Know Your Bird?
- Fed Sanguine About US Recovery, Worried on Jobs
- GM's Agreement to Sell Saab Unit Falls Apart
- Consumer Confidence Improves but Still Shaky
- US Home Prices Up 5th Month, 2nd Straight Quarter
- FDIC Fund Falls into The Red, Bair Urges Lending
- Holiday Guide to This Season's Smartphones
- Six Ways to Boost Your Income in a Big Way
- Buyers Look for Bargains at Luxury Condo Auction
- My 2010 Home Price Outlook: UBS Analyst
- Why Are Options Piling into Dollar Tree?
- Novartis 'Cells' Its Flu Vaccine Technology
- Silicon Valley and Hollywood Now Fast Friends
- Markets Can Rise 5-10% in the Near-Term: Strategist
- Busch: The Debt-Interest Rate Paradox
- The Lloyd's Prayer, Leggo My Eggo, Plate Hate & Your Emails
- Buy These 'Competitively Positioned' Stocks: Portfolio Manager
- Behind The Scenes With Warren Buffett
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- GM's Agreement to Sell Saab To Swedish Firm Falls Apart
- US Home Prices Up 5th Month, 2nd Straight Quarter
- FDIC Fund Falls into The Red, Bair Urges Lending
- Buyers Look For Bargains At Luxury Condo Auction
- Weak Dollar Is Golden for Mining Companies
- Revised GDP Reading Puts Growth at 2.8%; Inflation Tame
- Behind The Scenes With Warren Buffett
- Gold Will Collapse Like Oil Did in 2008: Charts
- CA "More Profitable" After Saving Energy: CEO
Text Size 
SANTIAGO, Nov 11 (Reuters) - Chile's state copper think tank, Cochilco, on Wednesday raised its 2009 average copper price outlook to $2.30 per lb from $1.95, but slightly trimmed its 2009 copper output forecast to 5.38 million tonnes. The think tank also raised its copper price forecast for 2010 to an average of $2.70 per lb from $2.10 per lb, citing dynamic Chinese demand and expectations of a recovery of developed economies from global crisis. Cochilco slightly lowered its forecast for Chile's 2009 copper output to 5.38 million tonnes from a previous forecast of 5.4 million tonnes this year, seeing production up 1 percent versus 2008 levels. Chile is the world's No. 1 copper producer. It also raised its 2010 copper output forecast to 5.78 million tonnes versus a previous view of 5.75 million tonnes. "Vigorous Chinese demand has maintained prices firmer than previously expected, which we expect to continue for the rest of the year," Cochilco said in a report on copper market trends during the third quarter, citing bigger-than-expected Chinese imports. Chinese demand should fall in 2010 as it uses up metal stockpiled this year, Cochilco said. Cochilco last month forecast rising mining investment in Chile during the next five years will lift the country's copper output more than 38 percent by 2020 to 7.4 million tonnes, compared with 2008 output of 5.3 million tonnes. Copper prices have risen about 115 percent so far this year after plunging from record highs last year amid global financial crisis has helped the South American country, which relies on the metal for much of its revenues. (Reporting by Rodrigo Martinez, Simon Gardner and Aaron Nelsen; Editing by Lisa Shumaker) Keywords: CHILE COPPER/COCHILCO (simon.gardner@thomsonreuters.com; Tel: +562-370-4250; Reuters Messaging: simon.gardner.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Print
Email
- Remember when auto shows were major events where new models could generate buzz?
- A diet high in fat and sugar might actually be good for your portfolio.
- A new McDonald's in Manhattan is the nation's first to sport a sleek, chic interior imported from stores in London and Paris.
- Italians were outraged by a minister's comments that lunchbreaks are bad for waistlines and the economy.
- Playboy will outsource its publishing operations in a bid to become profitable again.
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
Data is a real-time snapshot *Data is delayed at least 15 minutes