Copper slows with China

Article Excerpt

GLOBAL X COPPER MINERS ETF $15.98, is a hold. The ETF (New York symbol COPX; buy or sell through brokers; lets you track the Solactive Global Copper Miners Index, which includes 27 global mining and exploration firms. It started up in April 2010. Canadian firms make up 31.5% of the fund’s holdings. They also include companies based in China (10.7%), Australia (10.4%), the U.K. (6.8%) and the U.S. (5.5%). Investors are charged an acceptable 0.65% MER. The ETF’s top holdings include Zijin Mining, 6.8%; Freeport-McMoRan, 5.4%; Jiangxi Copper, 5.3%; Southern Copper, 5.2%; Lundin Mining, 5.1%; Grupo Mexico SAB, 5.0%; Kaz Minerals, 4.9%; Ivanhoe Mines, 4.8%; Oz Minerals, 4.7%; and Polska Miedz SA, 4.5%. Investors benefited from copper’s rise to $3.28 U.S. a pound in June 2018, but it has since fallen to $2.58. Investors should note that the drop reflects fears of a coronavirus-driven economic slowdown for China; that country is responsible for almost 50% of global use. use…

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