SANTIAGO, May 16 (Reuters) - The Chilean Copper Commission (Cochilco) on Thursday raised its average copper price estimates for both this year and next.

Cochilco now sees average copper prices this year at $4.30 a pound, from $3.85 a pound before. For next year, Cochilco estimates average copper prices around $4.25 a pound, up from $3.90 a pound before. (Reporting by Fabian Cambero; Editing by Chris Reese)