Shanghai copper futures extended gains on Friday after climbing by their daily limits the previous session, lifted by dwindling warehouse stocks, traders said.
Shanghai's most active contract, November, rose 350 yuan to 25,740 yuan ($3,109) a tonne, with most other contracts gaining between 110 yuan and 250 yuan. Combined volume surged to 292,552 lots from Thursday's slim 69,092 lots.
"It's not surprising that the contracts rose again. Just look at the fundamentals warehouse stocks have been falling and are pretty low now," said a Shanghai trader.
LME copper warehouse stocks fell 725 tonnes to 88,450 tonnes on Thursday they're lowest in at least 14 years.
After the market close in Shanghai, the exchange announced warehouse stocks of 43,865 tonnes, down 17,614 tonnes, for the week ended on Thursday.
The London Metal Exchange three-month copper contract eased a tad to trade at $2,777/$2,782 a tonne on Friday's Asian trade as supply worries abated due to the end of a 17-day strike at Group Mexico's La Carded operations.
It ended on Thursday's kerb session up $51 at $2,786. Spot copper in Shanghai rose by 200 yuan to move in a band of 27,900-28,050 yuan a tonne on Friday.
Shanghai aluminium contracts bucked copper's trend to shed between 150 yuan and 200 yuan, with volume declining to 24,484 lots from Thursday's 48,278 lots.
LME aluminium was quoted at $1,680/$1,684 on Friday's Asian trade after gaining $6 to $1,689 a tonne.
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