{"code":"xx.metals.comex_lme_copper","node":{"code":"xx.metals.comex_lme_copper","name":"COMEX ÷ LME copper stocks","plain":"American vs global copper stocks","unit":"x","freq":"A","kind":"derived","source":{"publisher":"Computed by findash","keyShown":"comex/lme","note":"Derived series — see the formula and inputs in its lineage; every input resolves to a publisher."},"last":{"date":20260701,"value":1.8523146833285997,"ingestedAt":1790269426},"derivation":{"formula":"comex/lme","plain":"COMEX copper stocks divided by LME stocks. When this runs away from 1, the US and world price have come apart and someone is paying to move metal across a border.","inputs":[{"code":"xx.inv.copper_comex","name":"COMEX copper stocks","unit":"tonnes","freq":"A","kind":"static","source":{"publisher":"COMEX warehouse stocks, tonnes","keyShown":"inv/copper_comex","note":"Hand-entered from the cited source (confidence: SINGLE); review due 202610."},"last":{"date":20260701,"value":652200,"ingestedAt":1790199110}},{"code":"xx.inv.copper_lme","name":"LME copper stocks","unit":"tonnes","freq":"A","kind":"static","source":{"publisher":"LME warehouse stocks, tonnes","keyShown":"inv/copper_lme","note":"Hand-entered from the cited source (confidence: SINGLE); review due 202610."},"last":{"date":20260701,"value":352100,"ingestedAt":1790199110}}]}},"consumers":{"gauges":[],"indicators":[{"key":"cags","plainName":"Copper's growth message, discounted for distortion","role":"input","formula":"z(copper, 5y) × d,   where d = 1 − min(1, |COMEX÷LME − 1| ÷ 2)"}],"tripwires":[{"key":"copper_venue_split","label":"COMEX ÷ LME copper stocks > 2.0x"}],"positions":[{"slug":"own-asia","title":"Own Asia beyond Thailand","test":"Global growth pulse"}]}}