Chinese demand for copper vanishes after prices hit record

From Mining.com

A significant chunk of Chinese copper demand has all but evaporated after the metal’s stunning surge to record levels.

Copper on the London Metal Exchange burst through $13,000 a ton for the first time this week, extending its rally to nearly 50% over the past year. A cocktail of bullish factors could drive prices even higher over the short term. While real-world buyers typically take time to adjust to such sharp increases, what’s notable in this case is the extent to which industrial users in the biggest market are scaling back purchases.