China influences copper

Article Excerpt

GLOBAL X COPPER MINERS ETF $22.63 (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 are Kaz Minerals, 5.9%; KGNH Polska Miedz, 5.6%; Antofagasta, 5.5%; Zijin Mining, 5.3%; Oz Minerals, 5.2%; Grupo Mexico SAB, 4.8%; Lundin Mining, 4.7%; First Quantum Minerals, 4.7%; Boliden AB, 4.7%; Freeport-McMoRan, 4.7%; Glencore plc, 4.6%; HudBay Minerals, 4.5%; and Teck Resources, 4.4%. Copper prices moved up to $3.28 U.S. a pound in early June 2018, but they have since moved down to $2.92 partly on fears of a Chinese economic slowdown. That country makes up almost half the world’s consumption. Global X Copper Miners ETF is a hold…