To Chile’s delight, BofA forecasts copper price above US$5 per pound

The red metal is about to close October with a cumulative increase of 12.86%, its best month since February this year.

RIO DE JANEIRO, BRAZIL -October has proven to be an up month for commodities, and according to a report from Bank of America (BofA), this trend will continue for a while, pushing copper past the US$5 per pound threshold.

Chile's main export product rose 5.86% to US$4.788 per pound on the London Metal Exchange on Friday, according to the Chilean Copper Commission (Cochilco), while Comex futures rose more than 3% to US$4.770.

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Thus, the metal is . . .

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