Yesterday's copper gains wiped out after more than 4% drop today in London

LONDON.- Copper closed with a significant loss today at the London Metal Exchange (LME) after trading for US$ 1.42882 per pound of "grade A" material, compared to US$ 1.49277 on Thursday and US$ 1.42950 on Wednesday.

As a result, the monthly average fell to US$ 1.50336, while the yearly average slipped to US$ 1.47858.

Meanwhile, the future 3-month price quote ended at US$ 1.43857 per pound, down 4.65% from Thursday (US$ 1.50865).

At the LME, stocks jumped from 17,350 metric tons to 545,600. So far this year, there has been an accumulated increase of 205,825 MT (+60.58%).