The most traded January copper contract on the Shanghai Futures Exchange edged up by 0.2 percent to close at 51,490 yuan ($8,500) a tonne on Friday. Volume was thin as traders waited for a US labour report that may sway expectations on the timing of a reduction in the Federal Reserve's huge bond-buying programme, as well as a weekend Chinese leadership meeting that may offer clues on economic policy.
"Production is increasing. At the same time, physical demand is not that strong, but we heard some restocking activity is going on, which is supporting the market," said analyst Chunlan Li of CRU in Bejing. China's imports of copper totalled 406,708 tonnes in October, down from 457,847 tonnes in September, Chinese customs data showed on Friday. Its copper production reached a record high in September.
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