Copper prices fell from record highs and fell along with other industrial metals, as traders settled profits after a rapid rise in prices. Copper, nickel, and zinc futures prices all fell by more than 2% when the London Metal Exchange closed, cutting back on sharp gains over the past few weeks. Although many traders and investors are bullish on the long-term outlook for copper and other metals, the rapid rise raised warnings that the market could fall similarly sharply as traders' profits are settled. “We have seen a general correction in most markets, which is the norm after large price fluctuations,” Marex analyst Ed Meir said in an email report. As of press release, nickel prices on the London Metal Exchange fell 2.5% to $18,070 per tonne. Copper prices fell 2.8% to $12,863.50 per tonne.

Copper prices fell from record highs and fell along with other industrial metals, as traders settled profits after a rapid rise in prices. Copper, nickel, and zinc futures prices all fell by more than 2% when the London Metal Exchange closed, cutting back on sharp gains over the past few weeks. Although many traders and investors are bullish on the long-term outlook for copper and other metals, the rapid rise raised warnings that the market could fall similarly sharply as traders' profits are settled. “We have seen a general correction in most markets, which is the norm after large price fluctuations,” Marex analyst Ed Meir said in an email report. As of press release, nickel prices on the London Metal Exchange fell 2.5% to $18,070 per tonne. Copper prices fell 2.8% to $12,863.50 per tonne.