Copper rebounds and closes with significant gain in London

The red metal registered an increase of 4.5%.

03 de Marzo de 2009 | 14:37 | ValorFuturo

LONDON.- Copper closed with a 4.5% gain today at the London Metal Exchange (LME), after trading for US$ 1.57850 per pound of "grade A" material, compared to US$ 1.51046 on Monday and US$ 1.53768 on Friday.

As a result, the monthly average climbed to US$ 1.54448, while the yearly average rose to US$ 1.48461.

Meanwhile, the future 3-month price quote ended at US$ 1.58757 per pound, up 4.31% from Monday (US$ 1.52203).

At the LME, stocks decreased by 5,800 metric tons to 530,875. So far this year, there has been an accumulated increase of 191,100 MT (+56.24%).

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