Shanghai copper contracts posted losses on Friday as weak market sentiment again triggered a slide, precipitated by a minor fall on the London Metal Exchange (LME), traders said.
The most active October contract ended 550 yuan lower at 26,780 yuan ($3,235) a tonne. Most other contracts fell between 360 yuan and 500 yuan. Combined volume decreased marginally to 121,110 lots from 127,474 lots on Thursday.
"Shanghai's lost more than four times what LME shed on Thursday," said a Shanghai trader.
"Confidence in the market is so weak that the smallest falls in London seem to trigger quite a slide."
LME copper was quoted at $2,835/$2,840 on Friday's Asian trade, down from its on Thursday close of $2,845.
Spot copper in Shanghai fell by 290 yuan and 330 yuan to move in a range between 26,780 yuan and 26,880 yuan per tonne, in line with recent falls in domestic futures. Shanghai aluminium closed down on the day, with most contracts shedding between 70 and 170 yuan.
Volume fell to 185,462 lots from Thursday's heavy 243,210 lots. LME aluminium was trading at $1,794/$1,798 on Friday's Asian trade, down on Thursday's kerb close of $1,807.
It broke to new 8-1/2 year highs this week, defying the general sluggishness of the current base metals market.
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