China has been known to have been manipulating supply and demand figures in many areas, including copper, iron, REEs, and more, and the markets continue to believe whatever they say. They are masters at creating false perceptions, being able to buy low and sell high, while obscuring their tracks.

Be careful about what your read.

http://www.kitco.com/ind/Mills/2015-03-06-China-Copper-Con.html