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Base metals see-sawed during Friday afternoon London Metal Exchange (LME) trading, but still concluded the open-outcry sessions mixed and within technical ranges, traders said. A weaker-than-expected US jobs report in mid-afternoon inhibited the market, but was not a significant factor, with the complex mostly caught between fund selling and trade and consumer buying, they added.
US payrolls data showed 112,000 new jobs were added, against the forecast 180,000 and compared with a rise of 337,000 in October.
"It is a jumpy old market...but the closes are OK," one trader said.
Copper ranged either side of $3,000 throughout, ending the kerb at $3,002 a tonne from $2,990 at Thursday's kerb close.
"Copper has been fairly well-behaved. It did break down, but held support and has been ranging since," the trader said.
This week's activity has seen a fairly wide range, although there has not been the same volatility seen in early October.
Then, the market rose as high as $3,175 before losing 16 percent in a week on fund selling. This week prices lost some $100 as funds sold on weaker technical signals.
"Copper is not comfortable above $3,100, but equally down here we are seeing consumer buying," he added.
Elsewhere, aluminium struggled to make headway overhead, but was ably supported on dips by consumer interest. It closed at $1,808, down $3.
Nickel backtracked on some fund sales, finishing $75 lower at $12,975, while zinc absorbed similar sales to end at $1,172, up $8.
Lead rose to $951.50, up $11.50, while tin was at $8,810/8,830, up from the previous $8,775.

Copyright Reuters, 2004

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