The futures have been dead money for the last few months.
From Marginal Evolution:
Chinese copper imports rose in December by 12.6% spurred by price arbitrage between the LME and the Shanghai.
“There were a lot of opportunities for arbitrage in December, boosting imports of spot refined copper,” said Jing Chuan, chief researcher at Hua Tai Great Wall Futures.
Minmetals Futures analyst says some foreign trading firms have stored the copper into Chinese bonded warehouses expecting strong demand....MORE