Copper just hit record highs, but here's the twist—Chinese industrial buyers are pulling back. After prices climbed to unprecedented levels, major manufacturers and construction firms are hitting the brakes on purchases. The move reflects a broader hesitation in the industrial sector amid economic uncertainty. Some are hedging their bets, waiting for a potential pullback. Others are exploring alternatives or optimizing inventory. This pullback in demand from one of the world's largest copper consumers could signal a shift in market sentiment. For macro watchers, it's worth monitoring whether this represents a temporary pause or something more structural. The disconnect between record prices and softening demand from key industrial players is a classic supply-demand tension that typically precedes significant market adjustments.