The most-traded May copper contract on the Shanghai Futures Exchange closed down 0.5 percent at 52,120 yuan ($8,238.88) on Friday but posted a weekly gain of 1.1 percent with the dollar giving up some of Thursday's gains following reports of another shake-up in the White House. China's refined copper output in January and February rose 10.3 percent year-on-year to 1.48 million tonnes, according to official data released on Friday.
The most traded May aluminium contract closed up 0.1 percent at 13,995 yuan a tonne. Deliverable ShFE aluminium inventories rose by 87,303 tonnes to a record high of 934,216 tonnes, according to exchange data released on Friday. US President Donald Trump has decided to remove H.R. McMaster as his national security adviser, the Washington Post reported, taking the dollar lower against the yen. A weaker dollar makes metals cheaper for holders of other currencies and can support prices. Incoming White House economic adviser Larry Kudlow has said he would like the dollar to be stronger.
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