Copper’s direction is unclear

Article Excerpt

GLOBAL X COPPER MINERS ETF $24.46 (New York symbol COPX; buy or sell through brokers; www.globalxfunds.com) tracks the Solactive Global Copper Miners Index, which includes 20 to 40 international companies that mine, refine and explore for copper. Germanybased Structured Solutions AG created the index in April 2010. Canadian firms make up 37.3% of the ETF’s holdings. They also include companies based in Australia (9.8%), India (9.6%), Britain, 5.3%; and the U.S. (5.3%). The fund’s MER is 0.65%. Its top holdings are KAZ Minerals PLC, 7.1%; HudBay Minerals 6.4%; Capstone Mining, 6.4%; KGHM Polska Miedz, 6.0%; Oz Minerals, 5.3%; Antofagasta PLC, 5.2%, Lundin Mining, 5.0%; and Jianxi Copper Co., 5.0%. Copper prices have now moved up to $2.71 U.S. a pound from $2.10 in October 2016. Improving global economies and uncertain supply could push copper higher still. In the near term, though, the metal’s outlook is uncertain. Global X Copper Miners ETF is a hold. hold…