Copper plummets to $3.17 at London Exchange

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LONDON.- Copper closed with a loss of 1.20% today at the London Metal Exchange (LME) after trading for USD$ 3.17061 per pound of "grade A" material, compared to USD$ 3.20917 on Friday and USD$ 3.36566 on Thursday of last week.

The decrease in value comes in addition to the sharp 4.65% decline registered for the red metal on Friday of last week, when it fell to its lowest price since January 28th of this year – when the commodity was priced at USD$ 3.12 per pound.

As a result, the monthly average slipped to USD$ 3.28409 while the yearly average dropped to USD$ 3.65790.

Meanwhile, the future-3-month price ended at USD$3.16154 per pound, down 0.92% from Friday (USD$ 3.19102).

At the LME, stocks rose fell by 50 metric tons to 200,825.