Benchmark copper on the London Metal Exchange was down 0.5 percent at $6,666 a tonne at 1309 GMT after earlier touching $6,724, the highest since Sept. 12.
The metal used in power and construction has risen more than 20 percent this year and was on track for a weekly gain of 2.9 percent.
A deficit in the global refined copper market in the last three months of the year would keep prices high, said ABN AMRO analyst Casper Burgering.
"The base case for copper remains solid ... There are no indications that demand will slow down," he said, predicting prices at $6,800-$6,850 by the end of the year.
VOLUMES: Trading activity was low with Chinese markets closed on the last day of the country's Golden Week holiday.
GERMAN FACTORIES: German industrial orders bounced back in August, rising more than expected on strong foreign demand.
DOLLAR: The dollar was set for a fourth consecutive week of gains, helped by expectations of a US interest rate rise in December. A stronger dollar makes industrial metals more expensive for holders of other currencies, potentially dampening demand.
PAYROLLS: US employment fell in September due to the impact of Hurricanes Harvey and Irma, but the unemployment rate and wage growth suggested an improving labour market.
COPPER TECHNICALS: Support was around $6,580-$6,600 with resistance at $6,775-$6,800, said brokers Marex Spectron in a note. The 50- and 21-day moving averages were both around $6,550 a tonne.
LME ZINC: Three-month zinc was 0.8 percent lower at 3,261.50 a tonne but still close to a 10-year high of $3,308.75 reached on Wednesday.
SUPPLY: Zinc prices have risen more than 26 percent this year as a Chinese crackdown on polluting industry curbed output and inventories in LME warehouses declined to the lowest since 2009.
SPREAD: A shortage of immediately available metal in LME warehouses pushed the premium for LME cash zinc over the three month contract to $62 a tonne, close to last month's 10-year high of $66.
PRICES: Three-month aluminium was down 1.2 percent at $2,146 a tonne; nickel was 0.1 percent higher at $10,550; tin was down 0.4 percent at $20,860; and lead was 1.9 percent lower at $2,543.50.