By the end of April, copper had given up all its gains since the beginning of the year. Nonetheless, strategists at Commerzbank expect the base metal to recoup its losses and trade at $9,500 by year-end.

Copper to move back higher

“After the end of the current correction – at the beginning of May the copper price had slipped to its lowest level since mid-December – we expect higher copper prices again.”

“At the end of the year, we see copper at $9,500 per ton.”