Copper on the rise for 5th consecutive day

LONDON.- Copper continued its upward trend today with its fifth price jump in a row at the London Metal Exchange (LME). The red metal traded for US$ 1.56058 per pound of 'grade A' material, compared to US$ 1.51976 on Thursday and US$ 1.50593 on Wednesday of this week.

As a result, the monthly average rose to US$ 1.49300 and the yearly average rose to US$ 1.46706.

Meanwhile, the future 3-month price quote ended at US$ 1.57941 per pound, up 2.68% from Thursday (US$ 1.53813).

At the LME, stocks increased by 2,025 metric tons to 504,625. So far this year, copper has registered a cumulative increase of 164,850 MT (+48.52%).