February 6, 2026 04:30 PM GMT metal&ROCK | Europe Copper: Stockpiling, Supply and Substitution Copper's micro factors still look challenging, with China demand weak, some focus on substitution and lower US imports. However, macro factors continue to dominate, with strategic stockpiling in focus and some disruptions coming through. Key Takeaways Strategic stockpiling in focus: The US launched Project Vault this week, a planned $12bn critical minerals stockpile which a White House official confirmed could inc ...