Copper plunges to US$ 1.59 at London Exchange

LONDON.- Copper closed with a 1.94% drop today at the London Metal Exchange after trading for US$ 1.59256 per pound, compared to US$ 1.62409 on Monday and US$ 1.68827 on Friday.

As a result, the monthly average fell to US$ 1.72348 while the yearly average slipped to US$ 3.37158.

Today's value is the lowest for the red metal since July 7th of 2005, when it traded for US$ 1.59211.

Meanwhile, the future-3-month price ended at US$ 1.62862 per pound, down 2.43% from Monday (US$ 1.66922).

At the LME, stocks rose by 2,675 metric tons to 278,575. So far his year, there has been an accumulated increase of 81,125 MT (+41.09%).