Prices for Chile's main export, copper, soar following Trump victory

Following Donald Trump's victory in the US election, on 9 November 2016 prices for Chile's main export, copper, increased by 5.8 percent. This increase was followed by a further 5.6 percent rise on 10 November 2016, taking the price up to US$2.5 per pound, the highest level since July 2015 (La Tercera). The initial reaction of copper prices to Trump's victory was, as with most commodities, a sharp drop in prices due to increased uncertainty, but following his victory speech the prices recovered and starting rising rapidly. This was due to Trump's announcement that his government will include a US$ 500 billion infrastructure plan (focused on roads, bridges and airports), which led to increased demand expectations, according to Saxo Bank's Chief Strategist for raw materials, Ole Hansen (Diario Financiero).