Network Metals LLC

After continuing to climb this week, we are starting to see signs of copper’s weakness creeping in. COMEX and LME prices have dropped in the last couple of days, and the stronger dollar is having at least some impact. But for now we are especially noticing copper stockpiles increasing around the globe, after buying over the last couple of months had made the stockpiles relatively neutral. Shanghai stockpiles have risen by 21% this week alone, and we are getting further reports of Chinese buying simply vanishing in some cases. This may prove to be the start of the next downturn in the copper W we are expecting.