LONDON: Copper slipped on Thursday after briefly punching above the $10,000 level, last broken a decade ago, as speculators locked in profits amid worries about industrial demand.
Three-month copper on the London Metal Exchange touched $10,008 a tonne before retreating 0.3% to $9,847 a tonne by 1400 GMT.
The last time copper rose above $10,000 was in February 2011, when it touched a record of $10,190.
Copper and other financial markets got a boost after the U.S. Federal Reserve said on Wednesday it was too early to consider rolling back its emergency pandemic support.
But the market was vulnerable from the weight of bullish investors piling in, said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.
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