Copper and the Chinese business cycle

Copper, as a base metal follows the long-term trend in the business cycles around the world. If you do not believe it, look at the Deutsche Bank chart from their commodity group. There was a not a strong correlation in the early 2000 period because the Chinese economy was smaller and their as build-up phase, but the recent leading indicators for China when overlaid with copper prices shows that as China slows so will copper.