Copper fell from a record high reached earlier on Thursday, as the dollar gained on the euro and investors decided to grab profits ahead of the launch of a new copper-backed exchange-traded fund, especially with year end approaching. In New York, copper for March delivery slipped 1.35 cents to close at $4.0880 per lb. During the session it $4.12 a lb, short of the record at $4.1315 per lb hit on Tuesday. In late trade, it dipped further to $4.0680, off 3.35 cents.