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

- NYSEARCA
  • Tue, Feb. 3, 10:24 AM
    • Copper prices are on track for their biggest gains since September on speculation that China would use stimulus measures to jump-start its economy and boost demand for the metal.
    • Rising oil prices and Chinese stimulus speculation “have changed the focus to the upside and the short-covering has done the rest,” says Saxo Bank's Ole Hansen, adding that “energy is such a big and important part of the commodity sector, and the somewhat improved sentiment there also helps other” raw materials; aluminum and nickel also are rising to multi-week highs.
    • "We’re in this perverse world where bad news is good news,” says BNP Paribas analyst Stephen Briggs, and "a lot of people are thinking China’s going to join the rest of the world and lower interest rates or [offer] some kind of monetary response."
    • Raw materials companies are off to a strong start today: FCX +5.8%, BHP +3.9%, RIO +2.4%, VALE +3.9%, SCCO +3.4%.
    • ETFs: JJC, DBB, JJN, JJU, JJT, CPER, BOM, RJZ, BOS, LD, BDD, JJM, FOIL, NINI, CUPM
    | 11 Comments
  • Mon, Jan. 26, 11:49 AM
    • J.P. Morgan cuts its 2015 aluminum and copper forecasts by ~10%, seeing rising production in China this year while demand remains lukewarm, and downgrades Chalco (ACH -1.7%) to Sell from Neutral.
    • ACH has been one of the best performing stocks in China’s metals sector, but JPM says the underlying issue remains the company’s high-cost, loss-making assets within an oversupplied aluminum sector.
    • With ACH's high debt and negative free cash flow, the firm also believes the likelihood of an equity raising has increased.
    • Copper prices are bumping along at five-year lows, reflecting a worsening outlook for the global economy.
    • ETFs: JJC, CPER, CUPM
    | Comment!
  • Wed, Jan. 14, 10:28 AM
    • Freeport McMoRan (FCX -10.8%) sinks to a 52-week low as copper prices fall 4.5% to collapse to 2009 levels, though it is off overnight lows after prices were down nearly 9% at one point in London.
    • Other big global miners also are sharply lower: SCCO -7.3%, RIO -2.5%, BHP -4.4%, VALE -3.8%, CLF -5.8%.
    • Concerns over a supply glut and slowing consumption in China have weighed on copper prices in recent months; copper is often seen as an omen for the global economy because it is used in a wide array of construction and manufacturing activities, so today's precipitous drop explains much of the weakness in global equity markets.
    • The iPath Dow Jones UBS Copper Subindex Total Return ETN (NYSEARCA:JJC) is trading so heavily that nearly 60% of the average full-day volume traded in the first 10 minutes this morning.
    • ETFs: CPER, CUPM, DBB, BOM, RJZ, BOS, BDD, JJM, RGRI, UBM, BDG, USMI, HEVY
    | 5 Comments
  • Sep. 30, 2014, 12:07 PM
    | 10 Comments
  • Mar. 20, 2014, 8:00 AM
    | 10 Comments
  • Mar. 11, 2014, 12:02 PM
    • A continued wave of morning selling has brought copper lower by 4.3% on the session to $2.95 per pound, the weakest level since the summer of 2010.
    • Copper started the year at $3.40 and its swift decline this week comes amid horrid Chinese export numbers, a plunging price of iron ore, and chatter about defaults and banks calling in loans in China.
    • JJC -3.1%
    • Other copper ETFs: CPER, CUPM
    • Copper producer ETFs: COPX, CU
    | 2 Comments
  • Mar. 7, 2014, 2:34 PM
    • Copper futures slumped to their biggest loss in more than two years as investors worried about slowing growth in China, which accounts for 40% of the world's copper demand.
    • Traders were spooked by China's first default on a bond traded in the mainland, which comes amid broader fears about the impact of China's economic slowdown on demand for industrial metals.
    • Copper prices have lost 9.2% YTD as signs of faltering growth in China have raised the outlook for a surplus.
    • Top publicly traded producer Freeport McMoRan (FCX) -4.8%.
    • ETFs: JJC, CPER, CUPM
    | 3 Comments
  • Mar. 7, 2014, 8:58 AM
    | 11 Comments
  • Jan. 10, 2014, 8:58 AM
    | 4 Comments
  • Nov. 13, 2013, 10:05 AM
    • Copper futures tumble to their lowest level in more than three months on concerns about the pace of Chinese economic growth; December futures fall more than $0.06 (-2%) to $3.17/lb., hitting their lowest level since late July.
    • Copper and other base metals are suffering from rumors that the China will lower its 2014 growth target to 7%, says Commerzbank commodities strategist Eugen Weinberg.
    • Meanwhile, China's eagerly awaited Third Plenum offered little support for markets, outlining only vague economic goals.
    • ETFs: JJC, CPER, CUPM.
    • U.S.-traded copper miners: FCX -0.8%, SCCO -1.8%, TCK, GMO, SVBL, TLR.
    | 3 Comments
  • Jul. 11, 2013, 8:46 AM
    Gold's ahead 3% and Silver 5% following Bernanke's dovish remarks last night. GLD +2.9%, SLV +5.3% premarket. The devastated miners look to catch a big opening bounce as well, GDX +5.4%. Copper (JJC) +3.5%.
    | 9 Comments
  • Jun. 4, 2013, 2:28 PM
    Copper rallies (JJC +1%) on expectations of tighter supplies, as the potential rises for an extended shutdown at Freeport McMoRan's (FCX -2.5%) Grasberg copper and gold mining operation in Indonesia. If FCX were to declare force majeure, the shutdown could remove 100K-150K metric tons of copper supply from the market, a sizable chunk out of estimates of 600K-800K metric tons.
    | Comment!
  • May. 30, 2013, 3:42 PM
    Leaders of Indonesia's miners union say they will call on workers not to return to Freeport McMoRan's (FCX +2.3%) Grasberg complex until an investigation behind the tunnel collapse that killed 28 people is completed. The news means copper production could be sidelined for several more weeks, increasing pressure on an already tight market.
    | Comment!
  • May. 9, 2013, 3:06 PM
    The dollar (UUP +1%) is soaring across the board (not just against the yen, where it's now spiked through ¥100 to ¥100.56). The greenback is threatening parity vs. the aussie (FXA -1.1%) for the first time since last summer, and the euro (FXE -1.1%), swissie (FXF -1.4%), loonie (FXC -0.5%), and pound (FXB -0.6%) are seeing sizable declines as well. Commodities? Red. Gold (GLD -1.1%), Silver (SLV -1.2%), Oil (USO -0.6%), Copper (JJC -0.8%).
    | 5 Comments
  • May. 1, 2013, 10:41 AM
    Commodities are lit up bright red as weak economic data (here and in China) is a good excuse to end the bounce of the last few sessions. Gold (GLD -1.8%), Silver (SLV -3.6%), WTI Crude (USO -2.6%). Copper (JJC -3.3%) moves to its lowest level in about 18 months at $3.08/lb. The metal hasn't had a 2-handle since the start of 2011. Broad commodity gauge (DBC -1.8%).
    | 5 Comments
  • Apr. 26, 2013, 12:06 PM
    A sharp reversal in commodities over the last hour has brought the entire sector into the red. Gold (GLD -0.6%) - looking like it was set to challenge $1,500/oz. an hour ago - is back to $1,452/oz. Silver (SLV -2.3%). WTI crude (USO -1.2%) falls to $92.46. Copper (JJC -1.9%) dives back to $3.18/lb.
    | 13 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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