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Global X Copper Miners ETF (COPX)

  • Apr. 19, 2012, 8:30 AM
    More on Freeport McMoRan (FCX): This can be a tough business sometimes as costs don't pay attention to the price of the metal being mined: Q1 cash costs $1.26/lb. vs.$0.79 a year ago, costs for 2012 expected to be $1.43. Earnings off 49% Y/Y. Shares +1% premarket. (PR)
    | Apr. 19, 2012, 8:30 AM | Comment!
  • Apr. 15, 2012, 9:22 PM
    Struggling to lift output even with near-record prices, Chile's Codelco - the world's top copper producer (accounts for 1/3 of global supply) - was forced to buy the metal from outside sources to meet delivery contracts earlier this year. The purchases were small when measured against Codelco's total production, but imagine Saudi Arabia needing to buy crude to meet its deliveries.
    | Apr. 15, 2012, 9:22 PM | 6 Comments
  • Apr. 13, 2012, 8:51 AM
    JPMorgan files to list a copper-backed ETF. Copper-backed securities listed in late 2010 were thought the contribute to the metal's record-breaking run in early 2011 as the funds ate up supply in an already tight market.
    | Apr. 13, 2012, 8:51 AM | 2 Comments
  • Apr. 10, 2012, 12:36 PM
    Crude oil touches a 2-month low of $100.83/barrel as it follows risk markets downward. USO -1%, BNO -1.7%. Another economically sensitive commodity, copper falls back to mid-January levels at $3.65/lb. JJC -1.8%. Freeport-McMoRan (FCX) gives up big early 2012 gains to slip into the red on the year.
    | Apr. 10, 2012, 12:36 PM | Comment!
  • Feb. 28, 2012, 8:15 AM
    The Chinese use of copper in financing schemes takes another turn as some banks begin suspending loans against the metal after finding companies using the same collateral to apply for loans from more than one lender. While putting a number on it is impossible, the practice is almost certainly a source of false demand for the metal.
    | Feb. 28, 2012, 8:15 AM | Comment!
  • Feb. 13, 2012, 1:39 PM
    China's imports of copper - far in excess of anticipated need - suggests to Gordon Chang that Beijing is attempting to dress up its trade numbers. Even as exports fall off, China's trade surplus is growing as imports dive even faster, giving the U.S. the nod to pressure on trade issues. Later this year, look for China to stop buying copper and the price to dive.
    | Feb. 13, 2012, 1:39 PM | 1 Comment
  • Feb. 2, 2012, 9:41 AM
    While copper bulls point with pleasure at sliding LME inventory of the metal, it should be noted that the Shanghai Futures Exchange (SFE) has become a player in the space and stocks there are on the rise. Worldwide inventories have actually fallen very little over the last 3 months.
    | Feb. 2, 2012, 9:41 AM | Comment!
  • Dec. 16, 2011, 9:37 AM
    "Two mega developments will impact world copper consumption: the level of global business activity and substitution," writes Simon Hunt, a veteran watcher of the market. With neither factor boding well for the metal, he says, all that's propping prices is copper's financialization. This too will end; "copper prices will fall sharply, and that is almost a given."
    | Dec. 16, 2011, 9:37 AM | 13 Comments
  • Dec. 6, 2011, 9:59 AM
    Don't think mining shares are cheap? Poland's state-owned KGHM - the world's 9th largest copper producer - inks an all-cash deal to buy Canada's Quadra Mining (QADMF.PK +37%) for $3B. Quatra shares are trading higher than the $15 bid in Toronto, suggesting the possibility of a bidding war? (PR)
    | Dec. 6, 2011, 9:59 AM | Comment!
  • Nov. 10, 2011, 4:30 AM
    Mitsubishi (MSBHY.PK) pays $5.39B for a 24.5% stake in Anglo American's (AAUKY.PK) Chilean copper unit. The deal is Japan's largest ever mining acquisition and will almost double Mitsubishi's copper output at time when global demand is expected to increase over 40% by 2020. (PR)
    | Nov. 10, 2011, 4:30 AM | Comment!
  • Nov. 1, 2011, 9:47 AM
    Usually a safe haven on days like this, even gold isn't escaping the general panic as the rising dollar sends futures -2.1% to $1688.90/oz. However, silver is taking a much greater hit, sinking 6.1% to $32.244. The metal is "very much as an industrial metal right now," says one trader. Copper -4.4% to $3.473 and Platinum -2.7% to 1563.50.
    | Nov. 1, 2011, 9:47 AM | 2 Comments
  • Oct. 27, 2011, 11:05 AM
    Copper is the greenest of the green in the commodity sector today, higher by $0.18/lb. to $3.67 and bringing its 5 session gain to 22%! So the good doctor was predicting recession last Friday and boom times today? Time to take back that license. JJC +4.6%.
    | Oct. 27, 2011, 11:05 AM | 1 Comment
  • Oct. 13, 2011, 12:54 PM
    Iron ore or iGadgets? A penny stock 10 years ago, Australian miner Fortescue has soared more than 50K%, fueled by China's insatiable demand for ore and is a symbol of the greatest mining boom since the gold rush. Asked about a possible slowdown in China, the CEO of highflyer Atlas Iron has no worries. "If China suddenly catches the flu, the whole planet's cactus anyway." Remarkable stuff.
    | Oct. 13, 2011, 12:54 PM | 3 Comments
  • Oct. 12, 2011, 2:45 PM
    China reveals its copper inventories stood at 1.9M tons - roughly the amount the U.S. consumes in a year - at the end of 2010, nearly double what had been estimated, and suggesting demand for the metal there has been lower than assumed. It's a rare bit of solid data from Beijing, which usually keeps this info under wraps.
    | Oct. 12, 2011, 2:45 PM | 2 Comments
  • Oct. 12, 2011, 10:27 AM
    Check out the remarkable moves in currencies (aussie +300 pips in 12 hours!) and key commodities starting right about the time China opened for business last night  This rally may have little to do with Europe and everything to do with China showing signs of opening the spigots again. Chinese shares +3%. RE ETF: TAO +5.1%.
    | Oct. 12, 2011, 10:27 AM | Comment!
  • Sep. 23, 2011, 12:38 PM
    "The stock market is a discounting mechanism," says Marc Faber. He suggests the recent market action may have little to do with what's in front of our eyes - Europe - and everything to do with what's coming: "a meaningfull slowdown and disappointing news out of China." Good stuff. (video)
    | Sep. 23, 2011, 12:38 PM | 2 Comments
COPX Description
The Global X Copper Miners ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Copper Miners Index.
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