Take physic, pomp

Copper in Shanghai

There’s not much of it.

Two things in this chart, the first how SHFE copper stocks have not been this low since 2013 (and the Chinese copper market was very different back then, too). The second is that at this time of year, stocks should be adding back in the normal industrial cycle before the Chinese New Year period and so far, the reverse is happening. Copper bulls should watch this dataset closely through February.

1 Comment

    Has demand turned around or is the price going up because of speculators?


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