By Fabian Cambero
SANTIAGO (Reuters) – Chile’s state copper payment Cochilco on Monday claimed that rates for the red steel have most likely currently peaked this year in the middle of an intensifying profession battle, as united state President Donald Trump intimidated to more boost tolls on China.
“Base metals, including copper, are likely to have peaked in 2025 as they will be negatively impacted by the trade dynamics between the U.S. and China,” Cochilco claimed in a declaration.
It included that ordinary copper rates are anticipated to remain over $4 per extra pound this year.
Cochilco claimed that if present financial and geopolitical problems proceed, its projection would certainly compromise.
“In this context, demand would slow down compared to the assumptions considered at the beginning of the year, which would compensate for the shortage of supply. This dynamic would support the price of the metal,” Cochilco included.
(Reporting by Fabian Cambero; Writing by Daina Beth Solomon; Editing by Anthony Esposito and Kylie Madry)
