Doctor Copper seems very confused at the moment. The metal with the honorary degree in economics is caught between the current reality of deteriorating macro signals and the belief that things will soon get better. Nowhere more so than in China, the single biggest user of copper and just about every other industrial metal. It was Beijing’s campaign to soak up excess liquidity in the Chinese economy that stopped copper in its upward tracks in the second quarter of last year. The London price slumped from over $7,000 per tonne to under $6,000 over the course of June and July. Fears of a slowdown in China, even an ... (full story)