Shanghai copper rose on Friday, supported by a rally in equity markets, with investors focusing on economic data to assess the health of global economy. Asian stocks rose on Friday as investors bought shares that stood to benefit the most from an expected global recovery, with the Nikkei up almost 2 percent.
The copper market turned around in the previous session from a $51 loss at Shanghai's close on Thursday to a modest $5 gain, boosted by bullish US and European stocks, despite a surprise jump in number of the US workers filing new claims for jobless benefits. Japan's aluminium stocks fell month-on-month in April for the second straight month, further receding from a 10-year high, as exports to China jumped on higher metal prices there.