Fact: Rzzro's price feed shows LME copper at $13,603/mt and COMEX copper at $6.4305/lb, up 2.74% on the latest close. SHFE copper is at ¥102,260/mt, down 0.66%, which keeps the China-linked signal softer than the global benchmark.
The driver is a tug-of-war. Research points to structural copper deficits through 2030, while China inventory builds and weak restocking appetite cap immediate demand. Strategic stockpile and mine-supply headlines are keeping buyers from treating the pullback as a clean demand break.
Rzzro view: copper remains a supply-risk market, not a demand-led breakout. Procurement teams should separate hedge timing from contract exposure because upstream concentrate stress can hit refined availability before finished-goods demand turns.
Use dips toward $13,300-$13,500/mt LME as hedge windows for 3-6 months of coverage. Watch concentrate TC/RCs weekly; weak TCs are an early warning for refined copper tightness.