Shanghai copper little changed

The most-traded copper contract on the Shanghai Futures Exchange closed little changed, up 0.04 percent at 45,330 yuan($6,650)a tonne on Friday, undermined by concerns over weakening demand and oversupply. Shanghai Futures Exchange nickel ended 1.56 percent lower. The contract fell 1.20 percent and 3.4 percent in the previous two sessions respectively. Traders said that some investors were also shifting away from "hard" commodities into stocks following robust US and European industrial data.
Weaker steel prices also capped gains in nickel and other steel-related base metals, with Shanghai rebar futures down for a seventh session in a row.