Copper surged in 2017

Article Excerpt

GLOBAL X COPPER MINERS ETF $27.76 (New York symbol COPX; buy or sell through brokers; www.globalxfunds.com) tracks the Solactive Global Copper Miners Index, which includes 20 to 40 global firms that mine and explore for copper. Germany-based Structured Solutions AG created the index in April 2010. Canadian firms make up 30.6% of the ETF’s holdings. They also include companies based in Australia (12.3%), India (9.0%), China (7.9%), and Chile (5.2%). The fund’s MER is 0.65%. The fund’s top holdings are Freeport McMoran, 5.8%; Teck Resources, 5.4%; First Quantum Minerals, 5.3%; HudBay Minerals, 5.1%; Southern Copper, 5.0%; Glencore plc, 4.8%; Oz Minerals, 4.7%; and Turquoise Hill Resources, 4.7%. Copper prices have surged 30% over the last year, to $3.26 U.S. a pound from $2.50. That increase came from improving global economies and strong demand from China. Still, it`s uncertain if copper can hang on to those price gains. Global X Copper Miners ETF is a hold. hold…