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Investors are betting billions that metals bull run isn’t stopping.

Gold­man Sachs and Bank of Amer­ica are among those ad­vis­ing in­vestors to load up in an­tic­i­pa­tion of a long-term met­als rally fu­elled by the re­cov­ery from the pan­demic and spend­ing on re­new­able-en­ergy and EV in­fra­struc­ture.
Gold­man Sachs and Bank of Amer­ica are among those ad­vis­ing in­vestors to load up in an­tic­i­pa­tion of a long-term met­als rally fu­elled by the re­cov­ery from the pan­demic and spend­ing on re­new­able-en­ergy and EV in­fra­struc­ture.
BARTEK SAD­OWSKI / BLOOMBERG FILES

Ayear into the red-hot bull run in industrial metals that’s lifted copper to record highs, investors are still piling in, staking billions of dollars that it won’t run out of steam any time s...