Chile Cuts Copper Price Forecast for First Time Since 2016

Chile, the world's largest copper producer, has reduced its copper forecast for the first time since 2016, citing the trade war as a major factor. Tariffs on goods are impacting economic growth and industrial demand, which negatively affects copper prices. The forecast was cut to $2-3 per pound from an earlier $3.06, and demand growth was reduced to 0.4% from 1.6%. Despite this, there is optimism that trade war volatility will subside, leading to a price rebound in the long term.

What are the implications of tariffs on industrial demand according to the text?

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What is the long-term outlook for copper prices as mentioned in the text?

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