Copper closes with gain in London

LONDON.- Copper closed with a 2.82% gain today at the London Metal Exchange (LME) after trading for US$ 1.66355 per pound of "grade A" material, compared to US$ 1.61796 on Monday and US$ 1.67512 on Friday (the current maximum for the year).

As a result of the increase, the monthly average climbed to US$ 1.61498, while the yearly average rose to US$ 1.50113.

Meanwhile, the future 3-month price quote ended at US$ 1.68192 per pound, up 3% compared to Monday (US$ 1.63293).

At the LME, stocks decreased by 6,675 metric tons to 512,025. So far this year, there has been an accumulated increase of 172,250 MT (+50.70%).