SANTIAGO, Chile Global economic uncertainty has
contributed to copper market volatility, leaving investors
struggling to predict future prices, the president and chief
executive officer of Corporación Nacional del Cobre de
Chile (Codelco) said.
Speaking at the 12th World Copper Conference in Santiago,
Thomas Keller Lippold said that price fluctuations in copper
have lots to do with the issues facing the world
One could think the price response has very little
relationship to what is happening on the supply-demand side of
the copper industry, Keller said. But actually, the
market tries to infer what the behavior of the economy will be
in the future and applies these projections to the copper
supply-demand side. The volatility is not a new
paradigmits a new reality.
Investors remain fairly nervous and constantly looking
for new information on what the future will be, Keller
The head of the Santiago-based company was speaking as copper
prices traded at around $7,500 per tonne, down from highs of
greater than $9,800 in early 2011.