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The investment landscape for copper has been ignited by recent bullish predictions, particularly from prominent hedge fund manager Pierre Andurand. Andurand's forecast of copper prices reaching $40,000 per tonne underscored a compelling investment opportunity in copper miner stocks and the Global X Copper Miners ETF (NYSE:COPX). Here are the drivers behind his optimistic outlook for copper. Benzinga will also touch upon the performance and holdings of the Global X Copper Miners ETF and examine technical indicators to present a comprehensive case for investors. Copper Demand-Supply Dynamics Copper, a critical metal in the energy transition, is poised for significant demand growth. Andurand’s prediction is based on the increasing electrification of the world, including: electric vehicles renewable energy infrastructure military applications data centers As these sectors expand, the demand for copper is expected to double, outpacing supply, which traditionally takes about 15 years to develop new mines. Pierre Andurand's Bullish Outlook For Copper Andurand, known for his success in commodities trading, shifted his focus to copper after experiencing setbacks in the oil market. His Commodities Discretionary Enhanced fund rebounded from a 55% loss last year and is now up 83% year-to-date, largely due to diversified commodity investments. He believes current ...Full story available on Benzinga.com

Related tickers: BHP, FCX, COPX, GLCNF, LUNMF, GLNCY, BDNNY, ZIJMY, ZIJMF, ANFGF, KGHPF, FQVLF, TECK, BLIDF.

Copper prices continue to reach new record highs daily, soaring to $5.17 per pound on Tuesday, driven by improving market conditions. The metal has surged over 30% year to date, setting the stage for its best-performing year since 2010. Additionally, copper has jumped 28% in the last two months, marking its best two-month streak since April 2009. The performance of copper miners has also been outstanding. The Global X Copper Miners ETF (NYSE:COPX) has achieved 12th positive weeks in the last 14, rallying 40% year to date. Two primary factors are fueling the rise in copper prices: increasing demand from electrification and strategic stockpiling by China. Electrification Demand Kicks In Bank of America analysts noted that “renewables, EVs, and other new uses of copper – such as data centers and AI – combined with supply-side issues are driving tight markets.” The investment bank also highlighted that decarbonization efforts lead to higher ...Full story available on Benzinga.com

Related tickers: FCX, COPX, ANFGF, TECK.