Shanghai Futures Exchange copper prices closed mixed on Friday, with two nearby contracts jumping due to a lingering shortfall on the domestic spot market, traders said. The January contract, which will expire after the last trading day on Monday, closed at 30,880 yuan ($3,731) a tonne, up 400 yuan from Thursday's close, while February added 80 yuan to 29,800 yuan. But the most active March contract closed nearly flat at 28,800 yuan. More distant contracts all fell moderately.
"Gains in spot prices helped the nearby contracts, while the weak performance of the London Metal Exchange sparked some liquidation in distant contracts," said a Shanghai trader.