Copper slows with China

Article Excerpt

GLOBAL X COPPER MINERS ETF $20.03 (New York symbol COPX; buy or sell through brokers; 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 31.9% of the fund’s holdings. They also include companies based in Australia (13.5%), China (8.3%), the U.K. (5.9%), India (5.6%), and Switzerland (5.5%). The ETF has an MER of 0.65%. The fund’s top holdings are Kaz Minerals, 5.4%; Vendanta, 5.3%; KGNH Polska Miedz, 5.2%; Zijin Mining, 5.1%; Oz Minerals, 4.9%; Antofagasta, 4.8%; Lundin Mining, 4.8%; Freeport-McMoRan, 4.8%; Turquoise Hill Resources, 4.7%; Glencore plc, 4.4%; First Quantum Minerals, 4.3%; and Teck Resources, 4.2%. Copper prices moved up to $3.28 U.S. a pound in early June 2018, but they have since moved down to $2.82 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. hold…

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