...China's copper exports, monthly, to May'12:
LONDON, June 26 (Reuters) - For a market that is supposed to be in chronic shortfall, there has been a lot of copper on the move recently.
Consider, for example, China's May trade flows. Imports of refined metal totalled 302,000 tonnes, well above a consensus that assumed manufacturing slowdown and negative arbitrage would translate into slower arrivals.
....and here's how it finishes:
The LME's daily market positioning reports have just started showing the emergence, or quite possibly the re-emergence, of a dominant position holder in the copper market. As of today's report , showing the state of play at Friday's close, someone had between 40 and 50 percent of all LME copper warrants. Watch carefully now!
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