Read here for an updated price and inventory chart from The Copper Journal.

June marked the sixth consecutive increase in the monthly average copper price, as inventories fell to their lowest level since November. Spot copper averaged $2.2834 on Comex during June, up 17.73¢, or 8.4% from $2.1061 in May, but was off $1.4063, or 38.1% from $3.6897 last June.

The year-to-date average now stands at $1.8563, off $1.8113, or 49.4% from $3.6676 during the first six months of 2008. Inventories held in Comex and LME warehouses fell 42,594 MT, or 12% during June to 320,195 MT, and are down 262,388 MT from the March high of 582,583 MT.

See below for a chart covering 1988 through June 2009.

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