Top Trader Predicts Copper to Hit $40,000 on Green Demand Surge

Hedge fund manager Pierre Andurand predicts copper prices could soar to $40,000 a tonne in the next few years due to increasing demand from electrification and energy transition projects. His fund, which rebounded from significant losses last year, has gained 83% this year, driven by a broad range of commodities. Andurand believes supply will struggle to keep up with demand, and new mines take years to develop. He also no longer expects a large increase in oil prices despite geopolitical risks.