Industrial metals pulled back after the London Metal Exchange's all-in index of six base metals reached a record on Tuesday. Copper climbed to a fresh high, aluminum extended its advance and zinc moved above $4,000 a ton for the first time since 2022. The LMEX Index has gained more than 40% from a year ago as tightening supplies support prices, but escalating hostilities involving Iran have increased risks to global growth and metal demand. The US military said it destroyed five Iranian crude-oil tankers after Tehran tried to strike a US Navy warship, sending Brent crude toward $100 a barrel and heightening inflation concerns ahead of US consumer-price data due Friday. Copper fell 0.6% to $14,625 a ton by 10:36 a.m. in Shanghai on Wednesday as all LME base metals declined. Guangzhou Futures Co. said uncertainty over US inflation and changing expectations for Federal Reserve policy could put downward pressure on copper prices.