And meanwhile, while we wait: LME & COMEX stockpiles continue to fall. Sceptics keep pointing to storage in Chinese warehouses, but those levels have been dropping recently too.
Check the graph - LME levels haven't been below 200000 says the pre-GFC period. We are only 20000 t over that now
http://www.kitcometals.com/charts/copper_historical_large.html#lmestocks_30days