Copper Prices Slip on Inflation Fears and Stronger Dollar

Copper prices have retreated from near-record levels after a six-day advance, falling as much as 0.8% on the London Metal Exchange (LME).

The decline comes as traders weigh the outlook for US interest rates against shifting oil prices.

Several US Federal Reserve policymakers have raised concerns about inflation, with Richmond Fed President Tom Barkin saying that 'inflationary shocks could take time to fade.'

This has strengthened expectations of further monetary tightening and a higher dollar, making dollar-priced metals more expensive for buyers using other currencies.