Copper continues to plummet in London

LONDON.- Copper closed today with another loss of 0.62% at the London Metal Exchange (LME) after trading for US$ 2.89347 per pound of "grade A" material, compared to US$ 2.91161 on Tuesday and US$ 2.98917 on Monday.

As a result of the loss, the monthly average was reported at US$ 2.89347, while the yearly average dropped to US$ 3.60955.

Today's value is the lowest for the metal since December 18th of 2007, when it closed at US$ 2.84 per pound.

Meanwhile, the future-3-month price ended at US$ 2.88530 per pound, down 0.59% compared to Tuesday (US$ 2.90254).

At the LME, stocks increased by 450 metric tons to 199,050.