Copper Extends Retreat on Faster Inflation and Stronger Dollar

Copper extended its retreat from a record-high close as accelerating US inflation reduced the chance of rate cuts and a stronger dollar make the metal more expensive for many buyers.

The industrial metal is down around 3% from the close of Wednesday. That followed an eight day run of gains that had been driven by mine disruptions and a rally in technology stocks, that had fueled optimism that the artificial intelligence boom would spur demand for copper, which is used in wiring and renewable energy.