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Trafigura Sees Green Copper Supercycle Driving Prices to $15,000

  • Global green revolution to produce deep supply deficit
  • Covid-19 boosts ex-China demand, head of copper trading says
Copper Production at KGHM Polska Miedz SA Smelting Plant
Photographer: Bartek Sadowski/Bloomberg

The world’s biggest copper trader expects the metal to hit $15,000 a ton in the coming decade as demand from global decarbonization produces a deep market deficit.

Even in the early stages of the Covid-19 crisis, Trafigura Group was betting on the rebound that’s seen copper double over the past year to trade at more than $9,000 a ton. Now the commodities giant sees the metal soaring past record highs above $10,000 as western economies pull out of the pandemic and the green revolution takes hold, head of copper trading Kostas Bintas said in an interview.