Good to see the stockpile numbers behaving as expected. With the...

Good to see the stockpile numbers behaving as expected. With the annual restocking process now underway and the huge infrastructure spending, the market is starting to reaslise that once the doom and gloom is yesterday's news, copper prices are likely to move strongly higher.

Article below is also suggesting the Chinese may be buying up big. They have played this downturn amazingly well - destock as prices fall (which created further fear and selling) and restock as the price hits oversold levels.

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Tuesday, March 3, 2009
Copper up on inventories decline
Story link: Copper up on inventories decline
by Elaine Frei
Copper prices were higher Tuesday after inventories in London Metal Exchange warehouses fell again and as the dollar remained relatively weak.

Additionally, there was speculation that as much as a quarter of LME copper inventories - between 100,000 and 150,000 tonnes of the metal - could be bought up by China in the next three months.

May copper was up 9 cents to $1.60 per pound in New York, while in afternoon trade in London three-month copper gained $115 to $3,500 per tonne after LME-monitored warehouses dropped 5,800 tonnes of the metal used in construction and manufacturing