A tale of two markets. LME cash spreads are blowing out and physical tightness is creeping in. Sure Comex is sitting on a mountain of inventory, but once physical copper gets sucked into the US vault, it’s basically black holed—that stuff never flows back out into the global pool. Meanwhile the Yangshan premium in China is ripping higher. Nah folks, this isn't just paper speculation... #copper $HBM

A tale of two markets. LME cash spreads are blowing out and physical tightness is creeping in. Sure Comex is sitting on a mountain of inventory, but once physical copper gets sucked into the US vault, it’s basically black holed—that stuff never flows back out into the global pool. Meanwhile the Yangshan premium in China is ripping higher. Nah folks, this isn't just paper speculation... #copper $HBM

Source:https://x.com/staunovo/status/2086660852342460902