The Shanghai Futures Exchange (SHFE) copper price declined slightly on Friday partly due to weak investor sentiment over the economic conditions in some regions.

"Increasingly markets are looking at weaker economic conditions in Europe and tensions in Ukraine as price drivers. Typically, the outlook on Chinese demand has led the market as it accounts for 45 percent of global consumption, but the balance appears to be shifting," says a report released Friday by Australia and New Zealand (ANZ) Banking Group.

The most-traded copper futures for October finished at 49,780 yuan ($8064.36) per ton on the SHFE on Friday, down 470 yuan or 0.94 percent from Thursday.

The copper price was down 980 yuan or 1.93 percent on Friday from the previous Friday, August 22. The trading volume climbed 144,796 lots on Friday from Thursday's 196,510 lots.

Shanghai copper hit its highest point in nearly seven weeks on August 25 mainly due to steady consumer demand. But the copper market saw a decline on Friday due to concerns over the tensions in Ukraine which might limit global growth and reduce metals demand, a report from Reuters said on Friday.

Also, while the Chinese government will maintain its mini-stimulus policies to support the economy during a short term, the government will not resort to large-scale stimulus policies to boost investment, according to a report by Henan-based Futures Daily (FD) on Friday.

In this condition, domestic demand for copper is likely to remain limited in the short term particularly due to a sluggish real estate market, the report from FD said.