Copper fell on Thursday on profit-taking after hitting record highs earlier in the week, but losses were limited by US data pointing to a better economy in 2011 and possibly tighter supplies ahead. In New York, copper's March contract lost 0.4 percent, finishing at $4.2585 a lb.
A host of mostly positive US economic data released on Thursday reinforced the notion that recovery was picking up and likely to improve. New claims for US jobless benefits dipped last week and consumer spending rose in November for a fifth straight month, while new home sales edged up, the data showed.
"It keeps up hopes, with the added liquidity from the government in 2011, it points to a solid market next year," said Cort Gwon, director of trading strategies and research at FBN Securities in New York. In other base metals, aluminium closed at $2,432 a tonne versus $2,462 on Wednesday. Steel-making ingredient nickel fell to $23,600 from $24,050 while lead slipped to $2,449 from $2,440. Zinc fell to $2,298 a tonne from $2,330 and tin rose to $26,875 from $26,825.
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