Copper’s Uber-Bull Predicts New Record on Most Profitable Trade Ever

One of the highest-profile copper bulls is once again predicting new price records, as Donald Trump’s tariff threats drain global stocks and create what he sees as unprecedented opportunities for trading profit, Jack Farchy and Mark Burton reported for Bloomberg News.

The massive amounts of metal being drawn into the US will leave the rest of the world—and crucially, top consumer China—dangerously short, Bintas said. I Photo: Kostas Bintas Linkedin

Kostas Bintas became one of the best-known metals traders during his years building Trafigura Group’s copper book into the world’s largest before his departure in late 2023.

Now leading a metals push at energy trader Mercuria Energy Group Ltd., he is once again forecasting a surge in copper prices, predicting an increase of up to one-third from current levels.

The massive amounts of metal being drawn into the US will leave the rest of the world—and crucially, top consumer China—dangerously short, Bintas said in an interview.

“We think there is something exceptional happening in the copper market,” he stated. “Is it unreasonable to expect a copper price of $12,000 or $13,000? I’m struggling to put a number on it because this has never happened before.”