Copper prices on the London Metal Exchange (LME) retreated on Tuesday after hitting a record high close on Monday, falling to as low as $14,149 per metric ton before closing at $14,273. A stable dollar weakened some of the momentum that had previously driven metals higher. In the short term, market focus has shifted to the speech by Federal Reserve Chairman Kevin Warsh at the Jackson Hole central bankers' conference this Friday for clues on monetary policy. Despite the pullback in copper prices, factors such as low inventories, tight spot supply, and insufficient new mine development continue to support copper, with Citi reiterating its forecast for copper to reach $15,000 per metric ton by year-end.