December Copper futures gapped lower and had an indecisive day of trading, ultimately finishing down 0.94% but managing a positive week, up 1.98%. Chinese economic data—which is significant as China is the largest consumer and smelter of copper—was mixed, with industrial production coming in weaker than the previous month but the unemployment rate beating expectations. The slightly stronger U.S. Dollar acted as a headwind to copper prices, as a stronger dollar makes the dollar-priced commodity more expensive for foreign buyers, potentially reducing demand.
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