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While copper prices plummeted, market participation during Asia trading hours accelerated.
Asia has become the leader in copper consumption, accounting for 70% of global refined copper usage.
It is no secret that China holds a major presence within the global copper supply chain. As the world's largest copper consumer and one of the largest producers, China's influence in global copper markets cannot go unnoticed. This has been, and continues to be, evident within COMEX Copper Futures trading activity. A recent surge in U.S. overnight trading activity may indicate the