London copper futures extended losses on Thursday, pulling back from a 20-month high struck this week and a rally of nearly 10 percent over the past two weeks. Three-month copper on the London Metal Exchange dipped $87.75 to $7,857.25 by 0704 GMT, having touched $8,005 in the previous session and $8,010 on Tuesday, its highest since August 2008.
Benchmark third-month Shanghai copper fell 1.5 percent to 61,800 yuan, tracking LME losses, In other metals, nickel saw the greatest losses of the LME complex, slipping nearly 1.7 percent to $24,315, but still the strongest performer of the year with a 31 percent rise since January.
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