The WSJ article is about how Chinese copper demand is no longer a useful metric for ascertaining China’s true economic growth. China is now importing different raw copper for use by smelters rather than a more finished product for use by factories.
I think the ZeroHedge article and chart attached show what is really happening. In order to maintain high production, China is importing a lot of raw copper for the smelters to produce finished cathode sheets. While this is keeping Chinese smelters humming at full employment, copper supplies outstrip demand resulting in steadily rising inventories as seen in the chart above.
China is doing everything it can to maintain economic growth in it economy. Perhaps, they need to step up the building of ghost cities to increase demand.