Sharing this one — worth a read.
Trafigura is buying up copper for Asia as local supplies run low — and Shanghai spot premiums just hit a record 2,615 yuan a tonne. The paper price is slipping on US tariff worries, but the physical market is telling the opposite story. Follow the premiums, not just the price. Full story: https://zimbuck.com/blogs/1873/Copper-s-China-Squeeze-Trafigura-Buys-Up-Supply-as-Shanghai
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