China's copper futures finished on Monday higher, beefed up by a dollar-triggered rally on the London Metal Exchange. The most active January contract on the Shanghai Futures Exchange climbed 620 yuan to 28,610 yuan ($3,457) per tonne, while most other contracts rose between 300 yuan and 610 yuan.
Combined market volume expanded to 155,636 lots from 141,670 lots on Friday. LME three-month copper closed on Friday's kerb $38 firmer at $2,953 per tonne, though it had softened a bit to $2,941/49 on Monday's Asian trade.
"The weakening dollar and upbeat US jobs data helped boost copper in futures markets," said a trader. "But caution lingers, as seen from the stagnant transaction volumes on the LME on Friday."
"That will hinder gains in Shanghai in coming days." Shanghai spot copper rose 450-500 yuan to move in a range of between 31,350 and 31,500 yuan a tonne on Monday.
The spot market has led a recent domestic copper rally after below-average imports from May to August.
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