Copper closes with significant plunge

LONDON.- With a new decline of 3.65%, copper closed today at the London Metal Exchange (LME) after trading for US$ 1.42950 per pound of 'grade A' material, compared to US$ 1.48370 on Tuesday and US$ 1.48393 on Monday of this week.

As a result, the monthly average slipped to US$ 1.50990 and the annual average went down to US$ 1.47963.

Meanwhile, the future 3-month price quote ended at US$ 1.44991 per pound, down 3.17% from Tuesday (US$ 1.49731).

At the LME, stocks decreased by 1,125 metric tons to 525,300. So far this year, there has been an accumulated increase of 185,525 MT (+54.60%).