Shanghai copper futures rose by 3 percent on Thursday as low international stock levels boosted prices in both Shanghai and on the London Metal Exchange. LME copper stocks are at their lowest since December 1987, and although Shanghai exchange warehouse inventories are 74 percent higher since their April low, supplies to the spot market are still tight. Spot prices near Shanghai, the nation's copper retailing center, rose to 34,080-34,300 yuan ($4,118-$4,145) a tonne on Thursday, up 375 yuan.
Most-active August futures rose to 30,700 yuan, up by 970 yuan from Wednesday's close.
Trading volume rose to moderate 141,606 lots, from thin 76,968 lots on Wednesday.
Shanghai aluminium futures also rose on Thursday, with most-active July ending at 16,770 yuan a tonne, up 40 yuan from Wednesday's close. August rose 40 yuan to 16,680 yuan.
Trading volume rose to 5,878 lots, from 3,170 lots on Wednesday. The benchmark LME aluminium contract traded at $1,755.50 a tonne, up $12 a tonne from about the same time on Wednesday.
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