Copper futures traded near $6.5 per pound on Wednesday after retreating from a record $6.7 reached on August 25; an earlier report had placed the metal near $6.4 at a one-month low. Higher oil and long-term bond yields, inflation concerns and widening public deficits weakened the outlook for manufacturing and industrial-metal demand. Supply risks, including a 9.4% year-over-year fall in Chilean output in July and shortages of sulfuric acid used by refiners, provided support. Buyers also brought deliveries forward amid potential U.S. tariffs on unprocessed copper, steepening backwardation across major Western exchanges.