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Copper plunges 4% to new yearly low of US$ 2.49

As a result, the monthly average has dropped to US$ 2.68451, and the yearly average has slipped to US$ 3.58489.

08 de Octubre de 2008 | 12:48 | ValorFuturo

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LONDON.- Plummeting 4%, copper closed today at the London Metal Exchange (LME) with a new low for the year after trading for US$ 2.49703 per pound of "grade A" material, compared to US$ 2.60317 on Tuesday and US$ 2.58820 on Monday of this week.


As a result, the monthly average dropped to US$ 2.68451, while the yearly average slipped to US$ 3.58489.


Meanwhile, the future-3-month price ended at US$ 2.46754 per pound, down 3.38% from Tuesday's price (US$ 2.55373).


At the LME, stocks increased by 175 metric tons to 208,525.