Shanghai copper futures closed up on Monday to track a steep rise on the London Metal Exchange, but trade was sluggish as domestic investors remained cautious over the near-term market trend, traders said.

Shanghai's most active contract, December, gained 120 yuan to 25,900 yuan ($3,129) a tonne, while almost all other contracts rose 50 to 210 yuan. Combined volume dropped to 51,860 lots from already thin 79,160 lots on Friday.

LME three-month copper closed on Friday's kerb trade up $30 at $2,765 helped by a potential strike at Peruvian copper mines. The London market closes for a bank holiday on Monday, reopening on Tuesday.

Spot copper in Shanghai moved in a range of 29,200-29,330 yuan a tonne on Monday. Most Shanghai aluminium contracts closed up between 50 yuan and 120 yuan a tonne in line with local copper.

Volume was thin at 24,560 lots, versus 24,024 lots on Friday. LME aluminium closed on Friday's kerb session little changed at $1,701, up $1 from Thursday.

Copyright Reuters, 2004