Copper Prices Set to Skyrocket Amid Surging Demand, Says Top Trader

Hedge fund manager Pierre Andurand predicts that copper prices could nearly quadruple to $40,000 per metric ton in the next few years due to surging demand from the global energy transition, including electric vehicles and renewable energy projects. Despite a recent dip in U.S. copper futures, Andurand remains bullish on copper and other commodities like aluminum, while expecting oil prices to remain stable. Macquarie analysts caution that the current copper price rally may be overdone, with a high risk of a sharp correction.