Shanghai copper rises

London copper edged higher on Thursday, keeping physical demand in Asia in check with no sign of a Chinese re-stocking spree following the Lunar New Year holiday. The most active futures in Shanghai also rose half a percent to 75,880 yuan.
Merchants said physical copper trade in Asia had ground to a halt under the weight of record prices, and with inventories in bonded warehouses in Shanghai equivalent to at least those in LME storage, Chinese consumers were in no rush to restock.