Copper stalled by China

Article Excerpt

GLOBAL X COPPER MINERS ETF $18.10, is a hold. The ETF (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. It started up in April 2010. Canadian firms make up 32.7% of the fund’s holdings. They also include companies based in Australia (11.0%), China (9.9%), the U.K. (5.7%) and India (5.0%). Investor are charged an acceptable 0.65% MER. The ETF’s top holdings include Freeport-McMoRan, 5.4%; Southern Copper, 5.1%; Oz Minerals, 5.1%; Zijin Mining, 5.1%; Kaz Miner-als, 5.1%; and Polska Miedz SA, 5.0%. Other stocks include First Quantum Minerals, 4.9%; Grupo Mexico SAB, 4.9%; Glencore plc, 4.8%; and Lundin Mining, 4.7%. Investors benefited from copper’s rise to $3.28 U.S. a pound in early June 2018, but it has since fallen to $2.64 on fears of a Chinese economic slowdown. That country makes up almost half the world’s consumption. consumption…