Shanghai copper held steady on Friday, supported by upbeat US data and ongoing supply concerns, but a cash squeeze in the Chinese market towards the end of the year curbed momentum. Positive data from the United States provided an improved outlook for the world's largest economy, indicating stronger demand for industrial metals.
Demand for a range of long-lasting US manufactured goods surged in November and consumer spending rose for a fifth-straight month, cementing views of a solid economic growth pace in the fourth quarter. Shanghai's benchmark third-month copper closed up half a percent to 68,950 yuan ($10,372), posting a 0.8 percent weekly gain.