Shanghai copper futures ended the final session in the Year of the Monkey on an upbeat note, outperforming benchmark London futures on Friday as domestic supply data remained bullish. Official exchange warehouse data, released after the market closed, showed copper stocks in Shanghai at 22,342 tonnes, up 2,879 tonnes on week.
The rise was less than expectations of a 10,000 tonne stock build that helped pressure future on Thursday.
But many traders believe that ample stocks are present in warehouses not reflected in the exchange data.
Other bears points to slowing copper demand from downstream customers as persistently high prices take their toll on cathode demand.
The February contract expired on Friday at 31,000 yuan ($3,746), up 200 yuan from Thursday's close.
March rose 350 yuan from Thursday's close to end at 30,260 yuan, while April also rose 350 yuan, or 1.2 percent, to close at 29,270 yuan.
Chinese futures markets will be closed through February 15, to ring in the Year of the Rooster. London's benchmark three-month copper futures traded at $3,018 on Friday, up 0.6 percent from the same time on Thursday.
Prices later pulled back, on stock build.
Shanghai cash copper prices sagged on Friday, to 30,800-30,900 yuan a tonne, from 31,160-31,300 a tonne on Thursday.
A total 114,514 lot of copper futures traded on Friday, down from 166,682 lots on Thursday.
Shanghai aluminium futures underperformed a 1.1-percent rise on the day in the benchmark London contract, which traded at $1,834.50 a tonne on Friday.
Shanghai aluminium stocks fell 2,243 tonnes on week, to 62,162 tonnes.
Most active April aluminium futures rose to 16,280 yuan, up 70 yuan from Thursday's close. A total 6,018 lot traded, down from 10,774 lots on Thursday.
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