The most-active January copper contract on the Shanghai Futures Exchange closed 1.4 percent higher at 51,670 yuan ($8,091.77) per tonne on Friday, after dropping 5.5 percent previously. "Some investors, who entered the copper market recently to exploit the LME-ShFE arbitrage or to short, closed out their positions today before the EU Summit, pushing prices up," CIFCO Futures analyst Zhou Jie.
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