LONDON.- Copper closed with a 3.80% loss today at the London Metal Exchange (LME) after trading for US$ 1.62409 per pound of "grade A" material, compared to US$ 1.68827 on Friday and US$ 1.62885 on Thursday.
As a result, the monthly average dropped to US$ 1.73577 while the yearly average slipped to US$ 3.37952.
Today's value is the lowest for the red metal since July 15th of 2005, when it traded for US$ 1.61706.
Meanwhile, the future-3-month price ended at US$ 1.66922 per pound, down -2.77% from Friday (US$ 1.71685).
At the LME, stocks increased by 1,800 metric tons to 275,000. So far this year, there has been an accumulated increase of 78,450 MT (+39.73%).