End July 2021 and the SHFE warehouse inventory just dipped under 100kmt:
That’s way too early, seasonally speaking. Perfect timing for any copper bull however, so stop listening to the jawbone and pay attention to the numbers because copper is only going higher.
https://www.kitco.com/news/2021-07-26/METALS-Copper-climbs-to-6-week-high-on-floods-in-top-buyer-China.html