Warehouse levels and recent copper price declinesSince June 12 right up to today the LME warehouse stocks and the CME stocks have shown significant and consistent declines. You would think that a decrease in available supply would result in an increase in the price-not so. Over the past two and a half weeks copper has sunk from 3.10 to 2.89 not a great big decline but definitely counterintuitive. From what I see the shortage in copper metal is starting to appear and it won't be long before the price starts to adjust to the new reality that copper consumption is increasing and if anything a reduced price will have the consumers backing up the truick as the inevitable happens.