More gains ahead for copper

Article Excerpt

GLOBAL X COPPER MINERS ETF $13.56 (New York symbol COPX; buy or sell through brokers; www.globalxfunds.com) tracks the Solactive Global Copper Miners Index, which includes between 20 and 40 international companies that mine, refine or explore for copper. Germany-based Structured Solutions AG created this index. Canadian companies make up 38.1% of the fund’s holdings. It also includes companies based in the U.S. (10.7%), Australia (6.9%) and Mexico (6.2%), Global X Copper Miners ETF’s MER is 0.65%. Its top 10 holdings are Lundin Mining Corporation at 6.8%; Xstrata plc, 6.1%; Grupo Mexico, 6.1%; Southern Copper Corporation, 5.9%, Antofagasta plc, 5.4%; First Quantum Minerals, 5.2%, Jiangxi Copper Company, 5.2%; Vedanta Resources, 5.2%; HudBay Minerals, 5.2%; and Freeport Copper, 5.1%. Copper prices have rebounded to $3.79 U.S. a pound from $3.25 in December. Over the longer term, improving demand and uncertain supply will likely push copper prices higher. Global X Copper Miners ETF is a buy for aggressive investors who want to hold a copper ETF. ETF…