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Copper Fell Due To The Dollar Strength And China’s Negative Industrial Outlook.

Copper prices experienced a decline of -0.7%, settling at 706.25, influenced by a strong dollar and cautious industrial sentiment in China, the world’s leading consumer of the metal. The greenback strengthened on the back of robust labour data in the U.S. and hawkish comments from Fed Chair Powell, impacting the purchasing power of key importers and increasing benchmark borrowing costs crucial to industrial activities. China’s industrial sector faced headwinds as official manufacturing PMI data indicated a fourth consecutive contraction in January. 

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