Copper prices ended lower on Tuesday, falling from a fresh record high in London and succumbing to a vicious sell-off in the broader commodities complex that enabled corrections in many over-heated markets. COMEX copper for March delivery shed 8.85 cents, or 2 percent, to settle at $4.3690 per lb, pulling further away from Monday's record peak of $4.4980.
Lead inventories rose 275 tonnes to 208,550 tonnes, coming close to their May 2000 peak of 208,650 tonnes. Lead closed at $2,609 a tonne versus Friday's close of $2,560. Nickel changed hands last at $25,155 a tonne from $24,950. Aluminium closed up $18 at $2,485, after hitting a session peak at $2,495 - just $5 short of a two-year high at $2,500. Zinc ended up $30 at $2.470 and tin closed down $520 at $26,350 a tonne. It is nearing record highs of $27,500 from November 9.
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