That day the three months price dropped sharply after meeting resistance around $3,980 and that volatility was seen extending until next Wednesday's November option expiry.
"The market is shaky after Wednesday's sell-off and many investors have backed off as there is a worry that the market could drop again, and it is perhaps only dollar weakness that is stemming losses," a dealer said.
The dollar fell sharply against the euro on Thursday in line with a US economic report on durable goods.
US September durable goods orders fell more than two percent - economists had forecasted just half that.
Still, some copper dealers reckoned prices could re-test last week's record high of $4,018 as the market has tended to jump in the days leading up to LME week.
The LME annual convention is scheduled to take place in London next week. "It's very volatile, and I would not be surprised to see this continuing in the short term as the market goes up and down $100 a tonne very easily," a fund source said.
"A lot of the major players are standing aside now, so that's leaving smaller funds dictating. It could well sell-off next week."
Basemetals.com's William Adams said the market was cautiously consolidating between $3,800 and $4,000 amid nervous sentiment.
"Wednesday's retreat may just be precautionary trading ahead of LME week, although increased volatility recently does suggest there is more two way business," he said. "The volatility also means that the market is more nervous and therefore more at risk to sudden moves."
Aluminium was at $1,960, up $18, while zinc was at $1,532, up $22. Other metals closed slightly higher.