Chinese billionaire Bian Ximing is making big bet on copper

Chinese billionaire Bian Ximing, who made $1.5 billion on gold deals, is now making a $1 billion bet on copper, Bloomberg reports.

Bian, who owns Zhongcai Futures Co., now holds the largest net long position in copper on the Shanghai Futures Exchange — nearly 90,000 tons following ten months of buying. His holdings, encompassing both personal and managed funds, far surpass those of all competitors, the agency reports.

Despite geopolitical tensions and a downturn in investor interest in the red metal, Bian remains confident in copper and the Chinese economy. He is taking a rare long-term bullish stance amid widespread market uncertainty.

The Chinese billionaire is not the only one who expects the value of copper, a key metal for global electrification, to rise. Many traders have noted the long-term dynamics of the energy transition and limited mine supply. Recent price fluctuations caused by Trump's tariff threats and changing trade flows have further bolstered the metal's prospects, the agency noted.