Copper hovered near record highs on Wednesday after closing slightly lower, but the metal could draw profit-taking in the near term on worries it has rallied without much of a correction, analysts said. Copper prices are up 27 percent year-to-date, with December accounting for one of the sharpest monthly gains - 12 percent - as the metal hit record highs on supply worries, demand from top buyer China and a dollar weakened by US stimulus.
Tin closed at $26,825 a tonne from $26,890, within reach of the $27,500 record high achieved on November 10. Aluminium closed at $2,462 a tonne from $2,435 previously. Zinc rose to $2,330 a tonne, from $2,328.