From Marginal Evolution:
Chinese are set to export their stocks of copper to the London Metal Exchange (LME) warehouses in a move to trim their domestic supply of copper that has been stockpiled at record levels even though there is scant end use for the metal.Yeah, that would do it.
“Chinese trading companies and main smelters will jointly export big amounts of copper in the next two months. The copper will be seen in LME warehouses in Asia,” a trade manager at Jiangxi Copper International told Reuters.
Copper stocks at LME are said to have been depleting lately so the flow back of Chinese copper is seen by some as a way to avert tight supply....MORE