Copper futures settled into a low volume inside range day as market participants monitored mixed demand signals from China. Industrial activity in the top copper-consuming nation has slowed heading into the Lunar New Year, with manufacturers pausing operations as economic momentum softens. Additionally, supply side challenges persist as major mines face power outages and production guidance remains conservative. Despite these headwinds, Copper futures found support from a weakening dollar, which has seen three consecutive sessions of decline. Global demand from energy transition projects and data center expansion continues to provide an underlying floor for the metals complex. Bob Iaccino provides an update on price action and macroeconomic factors.
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