Can someone enlighten me on the relationship between LME copper...

Can someone enlighten me on the relationship between LME copper stocks (which seem to be on the way down) and COMEX copper stocks (which seem to heading up).

What is the logic in this apparent disparity?

Is the disparity related to the rising price of copper?

Perhaps also more to the point for readers of HotCopper - is the disparity good for RXM? The rising price of copper and the exchange rate at around 75c must be good news but after a very long wait for patient SH we are looking for any news that is good.

Cheers and thanks in anticipation!