Copper needs global growth

Article Excerpt

GLOBAL X COPPER MINERS ETF $25.93 (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 30.6% of the fund’s holdings. They also include companies based in Australia (12.3%), India (9.0%), China (7.9%), and Chile (5.2%). The ETF has an MER of 0.65%. The fund’s top holdings are Southern Copper, 6.0%; Zijin Mining, 5.9%; Freeport McMoran, 5.7%; Teck Resources, 5.6%; First Quantum Minerals, 5.6%; Kaz Minerals plc, 5.1%; Grupo Mexico, 5.0%; and Oz Minerals, 4.7%. Copper prices have risen 18% over the last year, to $3.02 U.S. a pound from $2.60. That increase came from improving global economies and strong demand from China. Still, it`s uncertain copper can hang on to those gains. Global X Copper Miners ETF is a hold. hold…