Copper Read today's Mining.com article "Surge in copper imports defy dismal chinese trade data"?
Why would this surprise anybody? Wouldn't you expect the Chinese to keep their assets in copper in place of gold which is less useful and paper money which is debased every day. There is a paradigm shift and the Chinese are pragmatic. What a deal. I wish I could buy groceries at a store at a lower price simply because my pantry is well stocked.
Stupid hedge traders are shorting copper based on what is used rather than what is actually bought? Did they miss the report of 2012 Chinese 17% increase of copper imports?
I doubt it. No, if you can drive the metal stocks down now, it sure makes the market profits from the next leg better when they give the signal to the media that it's ok to buy copper again. ... and of course ... when they were ready.