Copper declines 4.2%, hits lowest price since March of 2007

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LONDON.- Copper closed with a 4.20% plunge today –the fourth straight drop, resulting in a new annual low- at the London Metal Exchange (LME) after trading for US$ 2.70341 per pound of "grade A" material, compared to US$ 2.82180 on Thursday and US$ 2.89347 on Wednesday of this week.

The price is the lowest since March 5th of 2007 (US$ 2.63583).

As a result, the monthly average fell to US$ 2.80623, while the yearly average slipped to US$ 3.60078.

Meanwhile, the future-3-month price ended at US$ 2.66939 per pound, down 4.93% from Thursday (US$ 2.80774).

At the LME, stocks decreased by 575 metric tons to 198,500.