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Copper Mining ETFs Up as China Promises Continued Growth

  +Follow July 23, 2013 4:42PM
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Copper his an all month high on statements from the Chinese Premier Li Keqiang indicated that growth would not be allowed to fall below 7 percent. Growth fell from 7.7 percent in the first quarter of 2013, to 7.5 percent in the second quarter, and analysts feared it would fall past 7 percent in the third.

China is currently the world’s largest consumer of copper, and accounts for 40 percent of all worldwide usage.

There has been speculation from analysts that China’s construction boom might be waning, or in fact might collapse completely. Famous short seller Jim Chanos has been one of the most vocal bears on China, saying the country’s financial outlook closely resembles the early stages of the boom and bust Japan suffered in the 80s prior to that country’s extended recession, referred to as the country’s ”Lost Decade.”  

Copper is building and expansion material, and worries in May that construction would slow stalled out prices. As T&K Futures & Co. President Mark Smith put it, “Any sign that demand in China might slip is going to hit copper.” And now, with reassurances that demand will continue to increase, copper has shot right back up.

 While there is no indication Keqiang can follow through on his promise to grow 7 percent and hit the government benchmark, China has already acted to sustain high growth. On July 22 the country removed government-mandated minimums on lending rates.

Copper was further bolstered on news China would increase railway construction.

Global X Copper Miners ETF ($COPX) is up 3.63 percent to hit 9.42 a share. First Trust ISE Global Copper Index ($CU) was up 3.5 percent to hit $21.91 a share.

The largest copper ETF, and candidate for the longest name of an ETF, iPath Exchange Traded Notes Dow Jones – AIG Copper Total Return Sub-Index ETV Series A (JJC) had a more modest gain, with a 1.08 percent uptick to hit $39.47 a share.

Copper is currently $3.18 a pound, down 34 cents on the year.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer


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Results for COPX
TrendsInvesting
31 Aug 15 05:33:33
New intraday downward move on #CopperMining #ETFs $COPX $CU - down -5.95% in 107 seconds - http://t.co/ooeG1RRhOu http://t.co/Etv8qR21hs
Stock Forums
31 Aug 15 03:49:33
XLF Financials Select Sector SPDR Short Sales http://t.co/xoKeCZXp91 $XLF $BFAM $ARMH $COPX #XLF #stock #invest
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31 Aug 15 03:46:18
TLT iShares Barclays 20+ Year Treasury Bond Fund Exchange http://t.co/buWuQarR0D $TLT $COPX $USO $QLD #TLT #share #investing
danrocks
31 Aug 15 03:46:16
TROW T. Rowe Price Associates, Inc. News http://t.co/0wzwljmgmQ $TROW $AMAT $COPX $CM.TO #TROW #pennystocks #tradeideas
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31 Aug 15 03:43:36
NUGT Direxion Daily Gold Miners Bull 3x Shares Summary http://t.co/84onPjRxzp $NUGT $COPX $ABX $HUN #NUGT #pennystocks #nasdaq
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MPO Midstates Petroleum Co., Inc. Day Low http://t.co/APXl99Dbbw $MPO $COPX $GS $XLU #MPO #tradeideas #stocks
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31 Aug 15 03:43:10
OCLR Oclaro Inc. E.P.S. http://t.co/PuYca0fK0g $OCLR $WBA $COPX $BRSS #OCLR #stocks #finance
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31 Aug 15 03:41:36
IWM Russell 2000 iShares Company Info http://t.co/vN1uKkID3Y $IWM $COPX $TROW $ACWI #IWM #invest #tradeideas
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31 Aug 15 03:39:05
EUO ProShares UltraShort Euro Change http://t.co/DWxOboyd62 $EUO $TQQQ $VALE $COPX #EUO #nasdaq #stockmarket
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31 Aug 15 03:37:04
COPX Global X Copper Miners Chart http://t.co/Oxj7YuUKJU $COPX $CELG $URTY $FCG #COPX #stockmarket #stock
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COPX Global X Copper Miners E.P.S. http://t.co/X0TY3gjSbU $COPX $ABX $TTT $CTIX #COPX #tradeideas #investing
DennyT
31 Aug 15 03:36:36
COPX Global X Copper Miners Prev Close http://t.co/JJSUgFqP2g $COPX $EXPE $VGTL $MPO #COPX #finance #investing
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BIDU Baidu, Inc. Stock Forum http://t.co/5bpmvrPasV $BIDU $COPX $SOXS $COMT #BIDU #finance #stock
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RCL Royal Caribbean Cruises Chart http://t.co/qhZCIKZRIg $RCL $UVXY $COPX $XLF #RCL #tradeideas #stockmarketRDSH Roadships Holdings,…
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RCL Royal Caribbean Cruises Chart http://t.co/LJjaxJO2IY $RCL $UVXY $COPX $XLF #RCL #tradeideas #stockmarketRDSH Roadships Holdings,…
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29 Aug 15 23:46:29
RCL Royal Caribbean Cruises Chart http://t.co/SvNsGBEK8Q $RCL $UVXY $COPX $XLF #RCL #tradeideas #stockmarketRDSH Roadships Holdings,…
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29 Aug 15 23:46:29
RCL Royal Caribbean Cruises Chart http://t.co/p2rVHggD3T $RCL $UVXY $COPX $XLF #RCL #tradeideas #stockmarketRDSH Roadships Holdings,…
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29 Aug 15 23:46:28
RCL Royal Caribbean Cruises Chart http://t.co/IQzAPkFTQc $RCL $UVXY $COPX $XLF #RCL #tradeideas #stockmarketRDSH Roadships Holdings,…
lookn4wins
29 Aug 15 23:46:26
RCL Royal Caribbean Cruises Chart http://t.co/BkhELlCpx3 $RCL $UVXY $COPX $XLF #RCL #tradeideas #stockmarketRDSH Roadships Holdings,…
Rosner Stocks
29 Aug 15 23:46:08
RCL Royal Caribbean Cruises Chart http://t.co/yJAOuARPT0 $RCL $UVXY $COPX $XLF #RCL #tradeideas #stockmarketRDSH Roadships Holdings,…
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29 Aug 15 23:46:08
RCL Royal Caribbean Cruises Chart http://t.co/DISBWDKHIG $RCL $UVXY $COPX $XLF #RCL #tradeideas #stockmarketRDSH Roadships Holdings,…
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29 Aug 15 23:46:07
RCL Royal Caribbean Cruises Chart http://t.co/qxeBLyyBz3 $RCL $UVXY $COPX $XLF #RCL #tradeideas #stockmarketRDSH Roadships Holdings,…
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29 Aug 15 23:36:34
COPX Global X Copper Miners Change http://t.co/xQvUyoCOgP $COPX $HD $CEO $COPX #COPX #stocks #invest
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28 Aug 15 20:44:14
PSPFX U. S. Global Investors Global Resources Fund Last Trade http://t.co/uPR4BcedoL $PSPFX $GS $COPX $ACI #PSPFX #stocks #share
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28 Aug 15 20:35:06
COPX Global X Copper Miners Company Info http://t.co/BumXCnlciZ $COPX $UUP $GOOGL $HMSO #COPX #stock #nasdaq
jim50
28 Aug 15 02:38:03
GG Goldcorp, Inc. 52Wk High http://t.co/o7g900rLut $GG $COPX $ASHR $PNTV #GG #finance #invest
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COPX Global X Copper Miners Last Price http://t.co/n0nhKZwkZ8 $COPX $XLV $OXY $SBUX #COPX #nasdaq #investing
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27 Aug 15 14:36:26
RT @TrueContrarian: If you don't believe that #commodities will rise, think again. $COPX, $SIL, and $URA up over 5 %! #goinggreen #reboundi…
True Contrarian
27 Aug 15 14:27:10
If you don't believe that #commodities will rise, think again. $COPX, $SIL, and $URA up over 5 %! #goinggreen #rebounding #trending #silver
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27 Aug 15 04:59:47
Active Put buying seen yesterday $FCX January 2016 7.00 and 8.00 Strikes; $JJC $COPX $SCCO
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26 Aug 15 03:41:34
ITC ITC Holdings Corp. Financials http://t.co/j3hvTc96Pf $ITC $WMT $IWM $COPX #ITC #pennystocks #invest
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GPRO GoPro, Inc. Ask http://t.co/jVU8MOf3Ls $GPRO $ARMH $TLT $COPX #GPRO #stocks #tradeideas
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EMC EMC Corp. 52Wk High http://t.co/kgV3CYL9Mg $EMC $COPX $IEF $FB #EMC #stock #investing
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COPX Global X Copper Miners Dividend http://t.co/TuvKz32H3t $COPX $GILD $ARW $GE #COPX #nasdaq #stockmarket
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COP ConocoPhillips Filings http://t.co/0eq3Sns9QL $COP $COPX $GOOGL $NAT #COP #invest #finance
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26 Aug 15 03:35:06
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CBIS Cannabis Science Inc. Prev Close http://t.co/8jm19W02Oi $CBIS $COPX $TRQ $EEM #CBIS #finance #stockmarket
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ARMH ARM Holdings, Plc Day Low http://t.co/RFI2z0nA6M $ARMH $COPX $TMMI $WFC #ARMH #finance #stock
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25 Aug 15 11:55:06
Miners’ dividends are a fragile commodity. http://t.co/XJj6SFsoUH #commodities #mining $GDX $GDXJ $COPX $REMX $BHP $RIO
Ben Silverberg
24 Aug 15 04:09:48
$HG_F dropped 2.13% or 0.05/lb last week, remains below major MAs; S/T momo indicators are mixed. $JJC $COPX $SCCO http://t.co/4Pok4k8giN
				
				
  +Follow July 23, 2013 4:42PM
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