Shanghai copper up

Copper prices edged lower on Thursday in London, while Shanghai futures rose 0.3 percent, with sentiment underpinned after Rio Tinto said it expected a market deficit of half a million tonnes in 2011 and shortages through 2013. The most-active copper futures contract on the Shanghai Futures Exchange rose 0.3 percent to 71,690 yuan.
Tin rose $100 or 0.3 percent to $32,200 or about a dollar per troy ounce, trading just below its record high of $32,799, struck in mid-February. Technically, the market looked very bullish, set to rally by another 10 percent in the next two months.