Copper has soared about 19 percent this year, and Vertical Research Partners’ Mike Dudas says the metal has more room to run.

“It has had a really strong move over the last 6 to 7 weeks, so I wouldn’t be surprised to see if there’s a little bit of a bad data point in China, which could cause a pullback,” he said Tuesday on CNBC’s “Futures Now.” “But I would buy a pullback in copper if there is one.”

The metals and mining analyst remains optimistic on copper because of a number of factors that he says have been driving the metals surge this year. Gold and silver are also up 12 percent and 6 percent respectively, thanks to “less supply and better demand” in the metals markets.

But there are other macroeconomic trends, says Dudas, that are also contributing to his prediction that the metals will keep rallying.

“When you combine [supply and demand] with some more favorable macros like a weaker U.S. dollar and what appears to be a more dovish Fed, I think the rally’s going to continue,” he explained.

Gold has also spiked in the last week thanks to political uncertainty that also involved the exit of then-White House chief strategist Steve Bannon, with investors pouring into the metal as a traditional safety trade.

Copper was still hovering near its November 2014 highs on Wednesday but trading below $3. Dudas identified $3 as a key technical level for copper, which it last hit that same year as well.

Source: Investment Cnbc
This one surging metal could see an even bigger rally ahead