Is it in the capacity of some larger producers to be able to...

Is it in the capacity of some larger producers to be able to hold inventory during copper price fluctuations?
I.e. copper is being held back from the market currently during the price dip, hence inventories are decreasing, but could replenish very fast if copper price increases, due to larger producers releasing large quantities again?

Just wondering how much the copper price ties into world copper inventory levels, vs demand being the main factor?