The pigs are pumping ship corrosion-free

Some light is being shed on the copper quandary:

Pig farmers and other speculators may have amassed more than 50,000 metric tons [of copper], Jeremy Goldwyn, who oversees business development in Asia for London-based Sucden, wrote in an e-mailed report after a visit to China. That's about half the level of inventories tallied by the Shanghai Futures Exchange, which stood last week at a two-year high of 97,396 tons.

See China’s Pig Farmers Amass Copper, Nickel, Sucden Says.

Well, now we are wondering who bought all that sugar...