Copper closes out April with highest monthly average in history

LONDON.- Copper closed with a 0.97% drop this Wednesday at the London Metal Exchange (LME) after trading for US$ 3.92584 per pound of “grade A”, compared to US$ 3.96440 on Tuesday and US$ 3.96712 on Monday.

As a result, the average for April ended at US$ 3.93942 (the highest monthly value in history) and $US 3.63089 for the first quarter (25.88% higher than the same period in 2007: US$ 2.88430).

The future-3-month price ended at US$ 3.85554 per pound, down 1% from Tuesday (US$ 3.89432).

At the LME, stocks increased by 875 metric tons, to 110,525.  An overall drop of 86.925 MT has been registered so far this year (-44.02%).