I don't know much. I do know that the LME is owned by the Chinese as you point out. Look at what happened to Nickel on the LME earlier this year and the party exposed to the short squeeze.
I am certain that LME and COMEX inventories are irrelevant. Real inventories are more likely to be held closer to the points of production.
It's called Dr Copper for a reason. There is a chance that copper will put in another leg lower IMHO.
Copper Price news, page-929
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