One of the highest-profile copper bulls is back predicting new price records, as Donald Trump’s threat of tariffs drains global stocks and creates what he sees as unprecedented opportunities for trading profit.
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 spearheading a push into metals at energy trader Mercuria Energy Group Ltd., he is again calling for copper to surge to record highs, up by as much as a third from current levels.
The huge amounts of metal being drawn into the US will leave the rest of the world — and crucially, top consumer China — perilously short, Bintas said in an interview. “We think there is something exceptional happening in the copper market,” he said. “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.”
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