Copper prices reached record levels as prospective U.S. tariffs on refined imports accelerated shipments into America, draining inventories elsewhere while mine disruptions and long-term electricity demand added to supply concerns. Three-month copper on the London Metal Exchange reached an intraday record of $14,779 a ton on the 8th, after a $14,533 peak the previous day, while COMEX futures rose above $6.70 a pound. Copper was up about 18% this year and 47% over 12 months. The broader LMEX Index of six base metals gained more than 40% from a year earlier before industrial metals retreated; copper fell 0.6% to $14,625 a ton in Shanghai on Wednesday. The pullback reflected concerns over global growth, inflation, U.S. consumer-price data and Federal Reserve policy amid escalating hostilities involving Iran. The U.S. Commerce Department has proposed refined-copper tariffs of 15% next year and 30% by 2028, while Citigroup forecast $15,000 a ton by year-end.