On the international picture, he says: “This essentially led the differential between the COMEX [the Commodity Exchange] and the LME [London Metal Exchange] to collapse at the end of July. From a long-term perspective, copper is still a bullish commodity – there are a lot of investment plans being announced in the US and elsewhere to develop it – but that major differential between the LME and the COMEX is not what it was.”Considering the reasons behind the nosedive, Jeffrey Lorch, a partner at McKinsey, ex ...