Copper continues ascent for sixth day in a row

LONDON.- Copper closed with a new price spike today for the sixth consecutive trading day. At the London Metal Exchange (LME), the red metal traded for US$ 1.59982 per pound of 'grade A' material today, compared to US$ 1.56058 on Friday and US$ 1.51976 on Thursday of last week.

As a result, the monthly average rose to US$ 1.51080 and the annual average rose to US$ 1.47198.

Meanwhile, the future 3-month price quote ended at US$ 1.61547 per pound, up 2.28% from Friday (US$ 1.57941).

At the LME, stocks increased by 3,150 metric tons to 507,775. So far this year, copper has registered a cumulative increase of 168,000 MT (+49.44%).