The headlines from the London Metal Exchange tell a story of a world on the brink of a copper famine. 2025 is closing out with prices up nearly 40%...the most violent annual move since the post-crisis bounce of 2009. We’ve watched prices breach $12,000 a tonne, a level that would usually imply the world’s electrical grids were physically melting. But if you look at the actual hardware...the physical metal sitting in sheds...the story isn't one of scarcity, but of a massive, expensive game of logistical hide-and-seek. The…