Shanghai copper fell on Wednesday as investors cashed in profits after a three-day rising streak, disappointed that the London Metal Exchange failed to hold above $3,000 a tonne, traders said.
The most active September contract ended 230 yuan lower at 29,780 yuan ($3,598) per tonne, while other contracts saw losses of between 10 and 300 yuan.
Volume leapt to massive 262,192 lots from Tuesday's 197,428 lots. "Investors looked like they might support the market this but that wasn't the case for long," said one Shanghai trader. "With prices this high, there are going to be corrections, but I don't see copper falling anywhere fast."
LME three-month copper was quoted at $2,975/$2,980 a tonne in Asian trade on Wednesday, versus on Tuesday's kerb close of $3,002.
Prices are currently down from a fresh multi-year high of $3,052.50 hit in previous sessions.
Spot copper in Shanghai slipped between 100 and 130 yuan to move in a range of between 29,850 yuan and 29,940 yuan a tonne on Wednesday.
Shanghai aluminium futures ended mixed from 40 yuan higher to 90 yuan lower a tonne on Wednesday as volume increased to 92,156 lots from Tuesday's 68,884 lots.
LME three-month aluminium was quoted at $1,717/$1,721 a tonne on Wednesday's Asian trade, down a little from its on Tuesday kerb close of $1,725 a tonne.