We’ve followed the copper market fundies really, but really closely over at The IKN Weekly this year and noted the many and varied weird things it’s thrown out along the way. At this point today, those that have paid attention to ‘The Copper Basket’ section (and that’s not all the readers by the way; it’s a section that doesn’t appeal to all subbers but I know it has a core following) have a damned good idea about why copper is now dropping even as world warehouse stocks fall through the floor. For others, best hints are to start with the word “unwind” and the phrase “cancelled warrants”. That’ll help. A bit.