Copper registers another price hike, reaches highest value this year

LONDON.- Copper closed with a rise of 1.92% today at the London Metal Exchange (LME), after trading for US$ 1.70596 per pound of "grade A" material, compared to US$ 1.67376 on Monday and US$ 1.66514 on Friday.

As a result, the monthly average climbed to US$ 1.63199, while the yearly average rose to US$ 1.51572.

Meanwhile, the future 3-month price quote ended at US$ 1.72365 per pound, up 1.20% from Monday (US$ 1.70324).

At the LME, stocks decreased by 325 metric tons to 494,525. So far this year, there has been an accumulated increase of 154,750 MT (+45.54%).