Business News Americas reported that the average price of copper in 2013 will range between USD 3.5 per lb and USD 3.6 per lb.
Mr Andrés Mac Lean VP of Chile's state copper commission Cochilco said that "The price of copper today is around USD 3.60 per lb and it will end the year with the same average and the expectation for next year is that this price will be maintained."
Mr Mac Lean said that despite the international backdrop and the European crisis, China is expected to continue growing at above 7.5% and the supply demand tightness will continue, albeit to a lesser extent.
He said that even though we are seeing an unstable global panorama, we are also seeing that China is not falling substantially which, means it will meet its growth target of 7.5% and will be close to 8%. Therefore, copper demand will continue to be strong."