Copper set to reach a new record high before the end of Q2 – OCBC

Copper briefly took out $10,000 last Wednesday, trading an intraday high of $10,008 before retreating back to $9,825 by Friday close. Strategists at OCBC Bank expect the metal to print a new record high before the end of the second quarter.

Copper topped $10,000 and is within 5% of a new record high

“We have always maintained our bullish call on copper and continue to think prices are likely to break higher.”

“The intraday record high of $10,190 is now less than 5% away and we see the base metal setting a new high before the end of Q2.”