Copper futures traded on the Shanghai Futures Exchange (SHFE) closed higher on Friday, tracking its three-month copper peer on the London Metal Exchange (LME). The Shanghai benchmark copper contract for July delivery closed 0.09 percent higher at 46,040 yuan/metric ton (tonne) on Friday.
The SHFE copper has hovered around 46,000 yuan/tonne in recent trading days as the metal lacked the driving force for further buoyancy, said analysts. In the first four months of 2015, the country's refined copper output increased 11.9 percent year on year to 2.44 million tonnes, data of the National Bureau of Statistics (NBS) showed.
Copper traded at the Changjiang Nonferrous Metal Market, a major spot metals market in Shanghai, was quoted at 45,810-46,170 yuan/tonne on Friday, down 60 yuan from the previous trading day. On Friday, the SHFE July aluminum closed flat at 13,335 yuan/tonne. The SHFE nickel for July delivery closed 0.39 percent higher at 110,210 yuan/tonne, while the benchmark zinc, lead and tin closed down 0.44 percent, 0.93 percent and 1.13 percent, respectively.
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