👀 700,000 Tons of Copper in U.S. Warehouses. Why Is Price Still High? Copper now trades near $6.70/lb after briefly approaching $6.90 in September - even as U.S. warehouse inventories climbed to a record. 🔎 The key point is that record U.S. inventories do not necessarily mean the market is oversupplied: part of the build-up came from copper being redirected into the U.S. ahead of possible import tariffs. So, what's keeping the market tight? 🇺🇸 📈 Tariff expectations pulled more copper into U.S. warehouses 📈 AI data centers need large amounts of electrical equipment 📈 Grid expansion means more cables, transformers and infrastructure 📈 U.S. data centers may require around $110B in new power infrastructure by 2030 So record inventories and high prices are not as contradictory as they look. The U.S. may simply be holding a bigger share of available copper while long-term demand remains strong. From what I keep reading ( from people across veery different industries), demand for copper doesn’t seem to be cooling down yet... Haven’t bought it as a long-term investment, but I occasionally trade XCU on TradingView through WhiteBIT’s TradFi terminal 📊 💭 What are your expectations for copper next year? Or maybe you're betting on another metal? Or just $BTC ? #Macro Insights# #Altcoin Season#