Copper has not encountered a "floor price" and continues to fall at the London Stock Exchange

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LONDON.- Copper closed on Thursday at the London Metal Exchange (LME) with a new drop, for the third straight and eleventh time in 16 sessions after trading for $2.94472 US dollars per pound of 'grade A', compared to $2.96445 US dollars on Wednesday and $3.00074 US dollars on Tuesday.

Today's value is the lowest for red metal since March 15th, 2007, when it was valued at $2.92386 US dollars.

As a result, the monthly average has gone down to $3.20221 US dollars and the yearly average to $3.25661 US dollars.

The future- 3-month price ended at $2.97058 per pound, down 0.41% from Wednesday ($2.98282 US dollars).

At the LME, stocks increased by 2,800 metric tons to 185,500.  An increase of 2,700 MT (+1.48%) has been accumulated so far this year.