Bloomberg reported that the finance minister for Chile, the world’s top copper producer, believes that the new, higher prices for copper are here to stay.
As quoted in the market report:
There has been a dramatic change, a structural change, in the copper market,” Larrain said in an interview today. “I don’t believe we will see copper prices going back to $2, $2.5. That would happen in the very worst part of the cycle, but not as a structural issue.