I think your chart Bayhunter is live prices US$/Lb, not LME inventory levels as per Deme's post?
LME is run by a Chinese company. Propaganda is such an issue these days as many countries trying to obscure their intentions. China is currently hoping to obtain a lot of Russian copper at a decent discount, thereby forcing NATO countries to pay more. If you look at what is happening within the LME it seems ridiculous as they are factoring in a recession (possibly Europe based) & not looking at actual price levels and projects on the horizon. Surely they would have restocked a lot when copper hit $3.20/Lb back in July or any time thereafter but they didn't. Stupid.
Here is another chart from ***** showing the COMEX Copper quantities held in stock.
I think your chart Bayhunter is live prices US$/Lb, not LME...
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