There was a story in ***** on Friday saying that Shanghai Cu...

There was a story in Kitco on Friday saying that Shanghai Cu stocks rose 15% during the last month. Also the story below appeared. Hence BHP may be a short.

SINGAPORE, March 9 (Reuters) - Shanghai copper futures fell when the market opened on Friday and London Metal Exchange copper also gave up much of the previous day's gains after investors in Asia booked profits.

Shanghai copper for May delivery was down 0.66 percent at 57,560 yuan ($7,437) a tonne at 0117 GMT on Friday.

"London copper failed to break a phychological barrier yesterday, dampening traders' interest in Shanghai," a dealer said.

Copper gained 2.2 percent in London on Thursday to close at $6,275, building on Wednesday's near-3 percent rally. But investors, keen to book profits, were eager sellers on Friday.

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Three-month copper on the London Metal Exchange was quoted $95 lower at $6,180 a tonne.

"I am a little surprised Shanghai is off. I would have expected some catch up after the gains in London on Thursday, but the Chinese came out of the blocks as sellers in both markets," an LME dealer said.

Traders in Shanghai were expecting weekly copper stocks data later on Friday to show a rise or as much as 5,000 tonnes, which was weighing on sentiment, although the nervous mood in global markets appeared to be subsiding.

Global equity markets lost $2 trillion in a slide prompted by a near-9 percent slump in Shanghai equity prices just over a week ago. Continued...