Copper rebounds up to US$ 1.60 in London

LONDON.- Copper closed today with a 1.54% gain at the London Metal Exchange (LME) after trading for US$ 1.61706 per pound, compared to US$ 1.59256 on Tuesday (the metal's lowest value in 3.4 years) and US$ 1.62409 on Monday of this week.

Despite the gain however, the monthly average fell to US$ 1.71563 while the yearly average slipped to US$ 3.36382.

Meanwhile, the future-3-month average ended at US$ 1.63792 per pound, up 0.57% from Tuesday (US$ 1.62862).

At the LME, stocks increased by 1,475 metric tons to 280,050. So far this year, copper has registered an accumulated increase of 82,600 MT (+41.83%).