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.
