Copper Retreats From Near-Record Levels Amid Fed Tightening Fears

Copper prices have retreated from near-record levels after a six-day advance on the London Metal Exchange, as traders reassess their expectations for US interest rates.

The metal declined by as much as 0.8% on Wednesday, following comments from Richmond Fed President Tom Barkin that it may take time for inflationary shocks to wane.

Barkin's statement comes amid shifting oil prices and further tightening signals from Federal Reserve officials, which have contributed to the market's cautious outlook.