Copper continues 6 day plunge, ends at US$ 2.58

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LONDRES.- Copper closed today with a 4.26% drop, the sixth in a row marking a new annual low at the London Metal Exchange (LME) after trading for US$ 2.58820 per pound of "grade A" material, compared to US$ 2.70341 on Friday and US$ 2.82180 on Thursday of last week.

The price is the lowest for the red metal since February 21st of 2007 (US $2.54692).

As a result of the price drop, the monthly average fell to US$ 2.75172, while the yearly average slipped to US$ 3.59556.

Meanwhile, the future-3-month price ended at US$ 2.54511 per pound, down 4.66% from Friday (US$ 2.66939).

At the LME, stocks increased by 250 metric tons to 198,750.