China hurts copper prices

Article Excerpt

GLOBAL X COPPER MINERS ETF $19.02 (New York symbol COPX; buy or sell through brokers; www.globalxfunds.com) aims to track the Solactive Global Copper Miners Index, which includes 30 global mining and exploration firms. The ETF started up in April 2010. Canadian firms make up 31.6% of the fund’s holdings. They also include companies based in Australia (11.7%), China (9.6%), the U.K. (6.8%), India (5.8%), and Poland (5.5%). The ETF has an MER of 0.65%. The fund’s top holdings include Ivanhoe Mines, 6.0%; Zijin Mining, 5.3%; Lundin Mining, 5.3%; Oz Minerals, 5.1%; Vedanta Ltd., 5.1%; Jiangxi Copper, 5.0%; Southern Copper, 5.0%; Antofagasta, 4.9%; and Teck Resources, 4.9%. Other stocks include; KGHM Polska Miedz, 5.6%; First Quantum Minerals, 4.5%; Freeport-McMoRan, 4.4%; Boliden AB, 4.3%; Glencore plc, 4.3%; and Grupo Mexico SAB, 4.2%. Copper prices moved up to $3.28 U.S. a pound in early June 2018, but they have since moved down to $2.68 partly on fears of a Chinese economic slowdown. That country makes up almost half the…