CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 75-95% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Cochilco cuts Chilean copper forecast for 2026, 2027

By Reuters News

Oct 30 (Reuters) - Chile's copper commission Cochilco on Friday sharply lowered its forecast for Chilean copper production this year and forecast a milder-than-expected recovery for 2027.

The entity expects 2026 output to fall 8.4% versus a prior estimate of a 2.6% decline, before recovering next year with a 3% rise, slimmer than previously anticipated.

  • Cochilco estimates that Chilean copper production in 2026 will fall 8.4% to 4.94 million metric tons, versus an August estimate of 5.27 million tons

  • It noted that BHP's BHP.AX Escondida and Spence, along with state-run Codelco mines, account for more than 77% of Chile's net decline

  • Between January and September, Chile produced 3.63 million tons, down 8.5% from the same period in 2025

  • The country needs to produce close to 434,000 tons per month in the fourth quarter to reach the full-year estimate, Cochilco said

  • That amount would be 7.6% above average of what was produced this year through September

  • In 2027, Cochilco expects production to recover 3% to 5.08 million tons, versus the August estimate of 5.55 million tons

  • Lower ore grades, maintenance and disruptions have affected copper processing and recovery, Cochilco noted

  • Cochilco also raised its forecast for average copper prices to $6.18 per pound in 2026 and $5.95 per pound in 2027, citing constrained mine supply and a refined copper market with little room to absorb production disruptions

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.