Copper higher, key spread wider

Among LME metals, aluminium CMAL3 added 0.31%, zinc CMZN3 gained 0.61%, lead CMPB3 added 0.47%, nickel CMNI3 gained 0.62% and tin CMSN3 ticked 0.14% higher.

Among SHFE metals, aluminium SAFcv1 gained 0.54%, zinc SZNcv1 gained 1.01%, lead SPBcv1 added 0.32%, nickel SNIcv1 gained 1.07% and tin SSNcv1 gained 1%.

($1 = 6.7415 Chinese yuan renminbi)

Copper started the week strong, supported by tight availability, which also helped push a key spread even wider after last week hitting its widest in five years.

Benchmark three-month copper CMCU3 on the London Metal Exchange was up 1.45% at $14,365 a metric ton by 0300 GMT. The most-traded copper contract on the Shanghai Futures Exchange SCFcv1 jumped 1.77% to 109,580 yuan ($16,254.54) a ton.

"Shorts are having to buy nearby contracts to close or roll positions amid tight availability of deliverable metal," said Craig Lang, principal analyst at commodity research firm CRU.

The rally in copper contracts was capped by reduced consumer buying. The Yangshan copper premium SMM-CUYP-CN, a barometer for import demand in the world's biggest consumer of the red metal, China, fell to $90 a ton on Friday -- its lowest in a month.

The fall "primarily reflects deteriorating import economics, as well as softer near-term physical demand from Chinese buyers as they take a hand-to-mouth approach due to higher copper prices," Lang said.