Copper ended down after falling to its lowest level in over one week on Wednesday, as prices continued to back away from records hit earlier this week amid concerns about high inflation and tepid demand in China. Since touching all-time highs at $10,160 per tonne in London and $4.6375 per lb in New York on Monday, market momentum has flat-lined and recent declines have grown to more than 3 percent, as investors began to factor in dimmer short-term demand prospects.
COMEX copper for March delivery fell 5 cents to settle at $4.5240 per lb, after briefly dropping below $4.50 - another low dating back to February 1.