Copper rises on China rally

Article Excerpt

GLOBAL X COPPER MINERS ETF $22.60, is a hold. The ETF (New York symbol COPX; buy or sell through brokers; www.globalxfunds.com) lets you track the Solactive Global Copper Miners Index, with 27 global mining and exploration firms. It started up in April 2010. Canadian firms make up 32.6% of the ETF’s holdings. They also include companies based in the U.K. (11.2%), the U.S. (10.1%), China (8.5%) and Australia (7.4%). The fund charges investors an acceptable 0.65% MER. The ETF’s top holdings include Polska Miedz SA, 6.2%; Ivanhoe Mines, 6.0%; Freeport-McMoRan, 5.8%; First Quantum, 5.7%; Oz Minerals, 5.2%; Southern Copper, 4.8%; Vedanta Ltd., 4.7%; Zijin Mining, 4.6%; Kaz Minerals, 4.5%; and Boliden AB, 4.3%. Investors benefit from copper’s recent jump to $3.05 U.S. a pound. That rise reflects ongoing stimulus plans by governments around the world and optimism about a COVID-19 vaccine. As well, infrastructure and manufacturing in China, responsible for more than half the world’s copper consumption, is rapidly recovering following the COVID-19 slump. This fund is a..