Shanghai copper up

The most active January copper contract on the Shanghai Futures Exchange closed up 0.73 percent at 59,740 yuan ($9,500) per tonne on Friday, though it is heading for a weekly fall of around 0.5 percent. ShFE copper's net daily open interest was up 8,494 lots by the midday close, which, together with rising prices, showed that fresh longs had entered the market.
"Sentiment is largely positive as governments seem inclined to stimulate their economies. Investors are counting on the Chinese government staying on a stimulus path at least until the 18th Communist Party Congress," said a Shanghai-based trader.