Chinese Trader Who Made $1.5 Billion on Gold Now Builds a Giant Copper Bet
In a bold shift of strategy, a Chinese commodities trader who made international headlines after reportedly profiting $1.5 billion from gold trades is now turning attention to copper—a metal increasingly seen as the backbone of the green energy transition. According to market sources and financial analysts, this trader is building one of the largest private bets on copper in recent years, signaling strong confidence in the metal’s future amid tightening supply and booming demand.
From Gold to Copper: A Strategic Pivot
The trader—who remains unnamed in public reporting but is believed to be associated with a large Chinese trading house—successfully timed the gold rally during the macroeconomic uncertainty of 2020–2022. With gold hitting record highs due to inflation fears, geopolitical tensions, and central bank buying, the trader’s positions reportedly generated over $1.5 billion in profits.
Now, with gold showing signs of consolidation, attention has shifted to copper, often dubbed “Dr. Copper” for its predictive power over economic cycles. The move reflects a broader market trend: strategic positioning in essential industrial metals as the world accelerates toward electrification, clean energy, and decarbonization.
Why Copper? The Bullish Case
Copper has become central to global decarbonization goals. It is an indispensable material in electric vehicles (EVs), renewable energy systems like solar and wind, and the expansion of power grids. Each EV uses nearly four times more copper than a conventional car, and massive infrastructure upgrades in the U.S., China, and Europe are further driving demand.
According to analysts at Goldman Sachs, the global copper market is heading for a significant supply deficit by mid-decade. The bank has dubbed copper “the new oil,” emphasizing its strategic importance for the energy transition. Yet, investment in new copper mining capacity has lagged, constrained by long permitting times, environmental challenges, and high capital costs.
Details of the Copper Bet
Insiders suggest that the Chinese trader has amassed a substantial long position in copper futures through both domestic exchanges like the Shanghai Futures Exchange (SHFE) and global platforms such as the London Metal Exchange (LME) and COMEX. Additionally, there are reports of the trader engaging in physical purchases and long-term supply contracts with global producers, aiming to secure tonnage ahead of anticipated price increases.
Sources also point to warehousing activity in key Chinese ports, with copper inventories being accumulated quietly—a sign of preparation for a medium- to long-term play rather than speculative short-term trading.
Market Reaction and Speculation
The news of this massive copper bet has sparked renewed interest among hedge funds and institutional investors. Some see it as a signal that the copper market is about to enter a new bull phase, particularly if macro conditions support higher infrastructure spending and if China’s industrial demand rebounds in 2025.
Others caution that copper, like all commodities, remains vulnerable to short-term volatility driven by geopolitical risks, shifts in interest rates, and global manufacturing slowdowns. However, the scale and sophistication of the bet suggest a long-term conviction rooted in structural supply-demand dynamics.
China’s Role in Copper Demand
China is the world’s largest consumer of copper, accounting for more than 50% of global demand. With Beijing continuing to roll out stimulus measures focused on industrial upgrading, green energy, and housing support, copper consumption is expected to rise steadily in 2025. The trader’s large bet aligns with China’s broader macroeconomic strategy, leveraging domestic growth to drive commodity positioning.