Copper prices have extended their retreat, falling approximately 3% from record highs as rising U.S. inflation diminishes the likelihood of interest rate cuts and a stronger dollar makes the metal more expensive for international buyers. Following an eight-day rally, driven by mine disruptions and optimism surrounding technology stocks, copper is now trading at $13,765 per ton on the London Metal Exchange. The dollar index increased by 1% this week, while U.S. inflation readings have surged to multiyear highs, leading to a more hawkish monetary policy globally. Additionally, in China, the world's largest consumer of metals, high copper prices are beginning to deter demand, with fabricators reporting weaker orders this month. Zinc prices also declined by 0.8% to $3,556.50 per ton after a major smelter in Peru suspended operations due to a fire.