Copper breaks downward spiral and jumps more than 3%

The red metal closed today in London with a price of US$ 1.68 per pound.

LONDON.– Copper closed with an increase of 3.68% today at the London Metal Exchange (LME) after trading for US$ 1.68827 per pound of "grade A" material, compared to US$ 1.62885 on Thursday and US$ 1.62930 on Wednesday of this week.


Despite the increase, the monthly average dropped to US$ 1.74694 and the yearly average fell to US$ 3.38739.


Meanwhile, the future 3-month price ended at US$ 1.71685 per pound, up 3.42% from Thursday (US$ 1.66015).


At the LME, stocks increased by 1,475 metric tons to 274,100. So far this year, copper has registered an accumulated increase of 76,650 MT (+38.82%).

ValorFuturo
Friday, November 14, 2008
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