He accelerated his purchases from early January, for his own investment and with managed funds, with Zhongcai holdings reaching a peak near 40,000 lots, or 200,000 tons of the metal, in early April, before Trump began his escalation of tariffs, exchange data shows. He later moved some of the brokerage’s positions to CME Group’s Comex, to capture US turbulence, two of the people familiar with his investments said. As at the end of April, Zhongcai’s copper bet generated a total profit of around $200 million, according to the Bloomberg calculation.