Copper unable to make a comeback as it continues at lowest level in 3 years

LONDON.- Copper suffered its third consecutive drop today at the London Metal Exchange (LME) after trading for US$ 1.52430 per pound of "grade A" material compared to the US$ 1.55265 on Wednesday and US$ 1.60141 on Tuesday.

As a result, the monthly average fell to US$ 1.57731, while the yearly average slipped to US$ 3.28248.

Today's value is the lowest for the red metal since June 2nd of 2005, when it traded for US$ 1.50003.

Meanwhile, the future-3-month price quote ended at US$ 1.53995 per pound, down 1.77% from Wednesday (US$ 1.56762).

At the LME, stocks rose by 200 metric tons to 292,975. So far this year, there has been an accumulated increase of 95,525 MT (+48.38%).