Back in April at the peak of metal prices, the major media were...

Back in April at the peak of metal prices, the major media were talking about LME metal inventories plunging to critical levels and risking more squeezes. . One would’ve thought the supply problems have worsened, in spite of softened demand in China due to the pandemic, the copper price should at least maintain steady. Instead, it declined sharply ever since. I feel that metal prices are manipulated to counter inflation. I can’t see this decline going much further/longer, even with less Chinese stimulus.

https://www.bloomberg.com/news/articles/2022-04-07/lme-risks-more-squeezes-as-metal-stocks-hit-lowest-in-decades#xj4y7vzkg

LME Risks More Squeezes as Metal Stockpiles Hit Lowest in Decades (ByMark Burton and Jack Farchy, April 8, 2022 at 5:34 AM GMT+10Updated onApril 8, 2022 at 7:18 PM GMT+10

https://www.copyright link/markets/commodities/lme-metal-inventories-plunge-to-critical-levels-20220408-p5abwl

LME metal inventories plunge to critical levels (by Alex Gluyas, Apr 8, 2022 – 12.35pm)

“Inventories of base metals in London Metal Exchange warehouses have plummeted to critically low levels, sparking fresh concerns of a spike in prices that would leave physical commodity markets vulnerable to a short squeeze. Available stockpiles across the six main contracts on the LME – copper, aluminium, zinc, lead, tin and nickel – have fallen to the lowest level on record based on data going back to 1997, Bloomberg says.”