Massive urban infrastructure and electrical grid buildouts in China , and Russia. Especially to connect new nuclear plants and service the new megacities. All this requires massive amounts of copper as does the new users at the end of the pipe. US demand fallout is ancient history and baked in, nowhere to go but up. Do not get mesmerized by the current pre-election economic conditions , price will be determined by supply and demand fundamentals not the paper market. No central bank holds copper in its reserves .Hold your nose and your positions for two months til election passes. They are setting up to pump like crazy once the price of oil is brought down.