Its Over, page-22387

...copper exuberance built on China stockpiling isn't always going to last.

....the copper deficit narrative got ahead of itself. BHP may be lucky not to be given the opportunity to take over Anglo, to me it was poor timing, in 2 years time they could be the white knight buying 'depressed' assets when Anglo fails to reinvent themselves in a much harsher market.

....which leaves BHP now exposed to the downside without the copper narrative working in its favour. The abyss awaits below $41.95.
5 year view
BHP Stock Price and Chart — ASX:BHP — TradingView

The biggest glut of copper in four years has built up in Chinese warehouses, with one analyst saying the excess metal 'simply cannot be consumed'. Manufacturers are pulling back on buying after a price spike and tepid consumer demand

https://x.com/FT/status/1803276120164372617