China's copper futures contracts ended higher on Thursday propped up by rises on the LME and still-tight domestic supply.
Shanghai's most active contract, January, closed 160 yuan higher at 26,800 yuan ($3,238) a tonne, while most other contracts rose between 20 yuan and 230 yuan. Combined volume bounced back to 103,210 lots from Wednesday's thin 74,810 lots.
Spot copper in Shanghai swung in a narrower band of 29,550-29,650 yuan a tonne, a 20-yuan gain from Wednesday's lower limit and a 30-yuan loss from its upper. Shanghai aluminium contracts closed down 10 to 130 yuan on Thursday while volume boosted to 29,126 lots from thin 13,318 lots on Wednesday.
Trade was active after Beijing's plan to shut down out-dated smelters and levy taxes on aluminium exports was announced, traders said.
LME aluminium rose $20 to finish on Wednesday's kerb at $1,770, boosted by the prospect of output and exports from China falling if the country goes ahead with the new tax, traders said.
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