A key measure of Chinese copper demand just sank to zero, another indication that global prices are not balanced with what buyers in the biggest market are prepared to pay. Premiums paid on imported refined copper extended a months-long decline to reach zero for the first time in Shanghai Metals Market data going back to 2017. The unusually low levels come just days after copper on the London Metal Exchange rallied to a two-year high near $10,000 a ton. “It’s a sign of extremely weak demand for imported cargoes,” Wang Yingying, analyst at Galaxy Futures Co. said. Copper is up nearly 15% this year on the LME on bets ... (full story)