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iPath DJ-UBS Copper Total Return Sub-Index ETN (JJC)

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  • Sep. 26, 2011, 10:12 AM
    The powerful uptrend line from the 2008 bottom in commodities and commodity currencies have both been broken at the same time, notes Barclays technical guru Jordan Kotick. It suggests to him the post-2008 recovery is over.
    | 4 Comments
  • Sep. 23, 2011, 2:49 PM
    The CEO of the world's largest copper mining company says the freefall in copper prices may be ending. "You get the feeling it's hitting bottom...the supply and demand equation still remains tight," says Diego Hernandez of Chile's Codelco. Dr. Copper isn't cooperating just yet, down 4.5% at last check.
    | 1 Comment
  • Sep. 23, 2011, 1:12 PM
    Microscopic Fed rates and opaque information out of China have combined to distort the prices of industrial metals, but fundamentals such as years of rising stock/usage ratios are finally catching up. YTD: Copper JJC -28.5%, Lead LD -25%, Aluminum JJU -14.9%, Nickel JJN -23.7%.
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  • 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)
    | 2 Comments
  • Sep. 23, 2011, 7:10 AM
    Copper continues its precipitous decline, -5.9% to $3.28/lb. The metal has become financialized - subject to the whims of Chinese financing schemes as much as user demand - making the moniker "Dr. Copper" a charming throwback rather than reality. Instead of a leading indicator, its plunge is coincident confirmation of financial stress. JJC -3.5% premarket.
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  • Sep. 22, 2011, 7:48 AM
    The air continues to come out of copper, down another 5.7% this morning to bring its fall since Aug. 1 to 25%. Even with the plunge, the copper ETF JJC +2.5% Y/Y. Off 4-6% yesterday, the major miners are all sharply lower premarket. RIO -6.7%, BHP -5.2%, VALE -3.6%.
    | 1 Comment
  • Sep. 21, 2011, 1:01 PM
    It's another bad day for copper: Prices fall 2.2% to $3.73/lb, marking the low since November as the miners can't seem to escape bad news (I, II) on the production front either. Decliners: RIO -2.2%, FCX -4.1%, BHP -2.8%, FM -4.5%, SCCO -2%.
    | 1 Comment
  • Sep. 20, 2011, 4:38 PM
    "The problem with copper is that there is only air under the current price," writes Bruce Krasting. The metal has not participated in the recent risk rally, instead falling to its lowest price since November, surely putting pressure on Chinese lenders and borrowers who have used the metal as a financing tool. Jim Chanos may be right and it's time to shift our focus eastward.
    | 4 Comments
  • Aug. 31, 2011, 3:40 PM
    The flip side of gold, economically sensitive copper had its worst month since May 2010, falling 6.4%. Of more interest than the final result is the volatility. The metal plunged 16.5% in the first 9 days of the month, with a strong rally for the remainder to end at the final result.
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  • Aug. 10, 2011, 12:22 PM
    Stock market declines could be a precursor to even sharper drops in commodity prices if history repeats itself, writes Stuart Burns at MetalMiner. Metals sensitive to economic production are especially at risk. Commodity decliners today: Aluminum (ALUM) -1.4%, Copper (JJC) -3.9%, Tin (JJT) -1%, Steel (SLX) -3.7%.
    | Comment!
  • Aug. 8, 2011, 1:11 PM
    Commodity prices get slammed as economic fears intensify with some metals breaking through what is seen as important technical levels. Any current projections for commodity prices now need to be wadded up and be given a fresh macro look. Leading the downward spiral: Steel SLZ -7.4%, Copper JJC -7%, Tin JJT -6%.
    | Comment!
  • Aug. 5, 2011, 1:18 PM
    Commodities are largely down, and leading the pack is Tin (JJT -7.8%) falling to an 8-month low of $24,750 a metric ton. Another economic bellwether, Dr. Copper (JJC -3.3%), also has the doldroms and is set to record its sixth straight down day.
    | 1 Comment
  • Jul. 26, 2011, 4:50 PM
    Eying continued supply world supply shortfalls, Southern Copper (SCCO) plans to double its copper output by 2015 through a combination of new mines and expansion of existing. The firm's shares have completely bounced back from their hammering in the wake of Ollanta Humala's election victory in Peru.
    | Comment!
  • Jul. 21, 2011, 7:22 AM
    The HSBC China flash PMI for July comes in at 48.9, showing contraction for the 1st time in a year, and the lowest reading in 28 months. Assets levered to hot Chinese growth - the Australian dollar and copper to name two - drop sharply on the news. Shanghai -1%.
    | 3 Comments
  • Jul. 19, 2011, 12:23 PM
    Following a sharp spring swoon, copper continues a 3 week, 12% romp that has brought the price within shouting distance of its all-time high around $4.60. Fans say to ignore worries about economic slowdown, Dr. Copper indicates solid growth lies ahead. JJC +1.5%.
    | 1 Comment
  • Jul. 11, 2011, 8:40 AM
    Stillwater Mining (SWC) agrees to buy Peregrine Metals (PTTDF.PK) for $487.1M in cash and stock. The transaction gives Stillwater access to the undeveloped Altar open mine in Argentina, which has 7.4B pounds of indicated copper resources and 1.5M ounces of indicated gold.
    | 6 Comments
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JJC Description
The Dow Jones-UBS Copper Subindex Total ReturnService Mark is a sub-index of the Dow Jones-UBS Commodity Index Total ReturnService Mark and reflects the returns that are potentially available through an unleveraged investment in the futures contracts on physical commodities comprising the index plus the rate of interest that could be earned on cash collateral invested in specified Treasury Bills. The index includes the contract in the Dow Jones-UBS Commodity Index Total ReturnService Mark that relates to a single commodity, copper (currently the Copper High Grade futures contract traded on the COMEX).
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