(Bloomberg) -- Copper extended its retreat from a record-high close as accelerating US inflation reduced the chance of rate cuts and a stronger dollar make the metal more expensive for many buyers.
The industrial metal is down around 3% from the close of Wednesday.
That followed an eight day run of gains that had been driven by mine disruptions and a rally in technology stocks, that had fueled optimism that the artificial intelligence boom would spur demand for copper, which is used in wiring and renewable energy.A Bloomberg gauge of the dollar jumped 1% this week, while wholesale and consumer inflation readings in the US surged to multiyear highs.
The continued effective closure of the Strait of....
