Renowned copper enthusiast Kostas Bintas, known for his tenure at Trafigura Group, is now with Mercuria Energy Group Ltd. and is optimistic about copper reaching new price highs due to global copper shortages caused by potential tariffs from Donald Trump. Bintas believes that growing US demand will result in a scarcity of copper internationally, with China being particularly affected. This unusual market scenario has led him to predict a possible surge in copper prices to unprecedented levels, possibly reaching $12,000 to $13,000 per ton. Alongside other experts like Nick Snowdon, Bintas had foreseen a long-term uptrend in copper prices post-pandemic due to high demand for electrification. Despite previous price fluctuations, the current market conditions have presented a lucrative trading opportunity, with margins per ton being exceptionally favorable. The imbalance in the market caused by the threat of tariffs has disrupted the copper trade flow, resulting in heightened competition between Chinese and US markets as China faces a scarcity of copper stocks.
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