Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?



Copper Mining ETFs Up as China Promises Continued Growth

  +Follow July 23, 2013 4:42PM
Tickers Mentioned:

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

Signup for our daily newsletter and get our best articles emailed right to you!

Results for COPX
Ben Silverberg
26 May 15 05:37:37
Copper fell 3.8% or 0.11/lb last week and is now below 20-dMA; S/T momo indicators are trending down. $JJC $COPX http://t.co/pyhAdN5t5W
26 May 15 02:51:00
_IWM S&P 500 SPDRs Last Trade http://t.co/bmzDPgCZZo $_IWM $UUP $EEM $COPX #_IWM #stockmarket #stock
26 May 15 02:45:07
LEMB iShares Emerging Markets Local Currency Bond Fund Day Low http://t.co/8A7BLQMwtl $LEMB $COPX $EW $BABA #LEMB #nasdaq #tradeideas
26 May 15 02:34:37
COPX Global X Copper Miners Financials http://t.co/rY1LhzewHF $COPX $TSLA $CS $AGU #COPX #stockmarket #pennystocks
Investors Hangout
23 May 15 02:36:07
DIS Walt Disney Co. Exchange http://t.co/ytPL7cNTn9 $DIS $ARIA $TLT $COPX #DIS #stock #share
23 May 15 02:35:12
COPX Global X Copper Miners Bid http://t.co/GsWMea3qXd $COPX $XIV $AMZN $BAA #COPX #stocks #tradeideas
23 May 15 02:35:09
CPRX Catalyst Pharmaceuticals Partners Inc. Message Board Posts http://t.co/LrSUoouFaQ $CPRX $AAL $HTS $COPX #CPRX #stocks #finance
Lucky Jimmy
23 May 15 02:33:04
BLUE Bluebird Bio Inc. Volume http://t.co/SOYknVy9fb $BLUE $COPX $ANFI $JD #BLUE #share #invest
23 May 15 01:45:04
SIX Six Flags Entertainment Corp. Bid http://t.co/dH5R9EULIQ $SIX $ISR $EGRX $COPX #SIX #pennystocks #pennystocks
Penny Stocks Blog
23 May 15 01:41:23
RT @stock_forums: IAU iShares COMEX Gold Trust Bid Size http://t.co/JkU8x8trvd $IAU $VIPS $VHT $COPX #IAU #stock #pennystocks
Stock Forums
23 May 15 01:38:08
IAU iShares COMEX Gold Trust Bid Size http://t.co/JkU8x8trvd $IAU $VIPS $VHT $COPX #IAU #stock #pennystocks
23 May 15 01:33:07
COPX Global X Copper Miners EOD Data http://t.co/i4AWYKmkqm $COPX $ROSE $CRM $REED #COPX #invest #share
23 May 15 00:50:34
X USX-US Steel Group, Inc. Message Board Posts http://t.co/kSOuoEoVAy $X $DXJ $IBB $COPX #X #finance #pennystocks
Lucky Jimmy
23 May 15 00:47:13
RSX Market Vectors Russia ETF Trust Bid Size http://t.co/bBpWU7cAYr $RSX $CIEN $COPX $MRO #RSX #stocks #finance
23 May 15 00:45:58
IHPosts2: KR Kroger Co. Prev Close http://t.co/jkMRS81HyH $KR $VLTC $BAC $COPX #KR #pennystocks #nasdaq http://t.co/Csk7miIhta
23 May 15 00:45:36
ONTY Oncothyreon Inc. Quotes http://t.co/hJJBk54zcx $ONTY $AMDA $COPX $GMLP #ONTY #finance #stocks
23 May 15 00:44:38
MSI Motorola Solutions Inc. EOD Data http://t.co/yPHTbrvhE5 $MSI $COPX $LEXG $FNMA #MSI #finance #tradeideas
Investors Hangout
23 May 15 00:44:36
KR Kroger Co. Prev Close http://t.co/uoxdjGlTxe $KR $VLTC $BAC $COPX #KR #pennystocks #nasdaq
Investors Hangout
23 May 15 00:44:25
KR Kroger Co. Ex-Div Date http://t.co/TgHorCpVgn $KR $COPX $PM $CMCSA #KR #stock #stockmarket
23 May 15 00:42:48
IYR Real Estate iShares Dividend http://t.co/44IlmwYd3d $IYR $TBT $NADL $COPX #IYR #share #stocks
Stock Forums
23 May 15 00:41:35
HPQ Hewlett-Packard Co. Volume http://t.co/mtvXWdGaZD $HPQ $VLTC $SPPI $COPX #HPQ #tradeideas #nasdaq
23 May 15 00:41:34
GMCR Keurig Green Mountain, Inc. Ideas http://t.co/F16x2YsBfy $GMCR $COPX $GWPH $ARIA #GMCR #nasdaq #pennystocksGMLP Golar LNG…
23 May 15 00:41:34
HEWG iShares Currency Hedged MSCI Germany ETF Stock Message Board http://t.co/lwm7yQB4Uc $HEWG $XLF $AGEN $COPX #HEWG #investing…
23 May 15 00:41:33
HEWG iShares Currency Hedged MSCI Germany ETF Stock Message Board http://t.co/CXHver9DgA $HEWG $XLF $AGEN $COPX #HEWG #investing…
23 May 15 00:41:10
GMCR Keurig Green Mountain, Inc. Ideas http://t.co/Ho4IBYNFc0 $GMCR $COPX $GWPH $ARIA #GMCR #nasdaq #pennystocksGMLP Golar LNG…
23 May 15 00:41:09
GMCR Keurig Green Mountain, Inc. Ideas http://t.co/gpbWJ77jA7 $GMCR $COPX $GWPH $ARIA #GMCR #nasdaq #pennystocks
Rosner Stocks
23 May 15 00:40:08
GDX Market Vectors Gold Miners Day High http://t.co/aaWY7fWPFl $GDX $INTC $TWTR $COPX #GDX #stockmarket #pennystocks
23 May 15 00:38:24
CYBR Cyber-Ark Software Ltd. Ask Size http://t.co/5sxoxX2pyd $CYBR $COPX $KRED $MO #CYBR #stock #nasdaq
23 May 15 00:38:18
CVC Cablevision Systems Company Info http://t.co/kkcQWqJ2wi $CVC $XLF $TLT $COPX #CVC #finance #nasdaq
23 May 15 00:38:12
CTL CenturyLink, Inc. Ask Size http://t.co/NrKWeZTlGA $CTL $HPQ $AYSI $COPX #CTL #tradeideas #share
23 May 15 00:37:07
COPX Global X Copper Miners 52Wk Low http://t.co/xB6NndZXFA $COPX $DOG $BBDA $JD #COPX #stocks #investing
23 May 15 00:36:51
COPX Global X Copper Miners Bid Size http://t.co/waPU7NflLz $COPX $GOOG $CIG $ATML #COPX #nasdaq #tradeideas
23 May 15 00:36:39
COPX Global X Copper Miners Dividend http://t.co/G8lbWCGppt $COPX $IGV $AVY $AWLCF #COPX #finance #stocks
Stock Forums
23 May 15 00:36:38
COP ConocoPhillips Short Sales http://t.co/CtBXqjWsmr $COP $HYG $CHIX $COPX #COP #tradeideas #tradeideas
23 May 15 00:36:37
COPX Global X Copper Miners 52Wk Low http://t.co/WnvsA4KMhb $COPX $MSI $CAT $IBM #COPX #stock #stock
IH News Desk
23 May 15 00:36:37
COPX Global X Copper Miners Exchange http://t.co/O5ipSK2zo9 $COPX $PSEC $AMDA $IOGA #COPX #stock #invest
23 May 15 00:36:31
COPX Global X Copper Miners Filings http://t.co/GCdQt0rIi0 $COPX $WFC $AA $ASNA #COPX #stocks #share
Stock Forums
23 May 15 00:34:05
BBDA Bebida Beverage Co. Short Sales http://t.co/6J5JnIAME7 $BBDA $JNK $PSEC $COPX #BBDA #stocks #stock
Investors Hangout
23 May 15 00:34:05
BIB ProShares Ultra NASDAQ Biotechnology Chart http://t.co/oxC1886riz $BIB $COPX $CM.TO $FRO #BIB #stocks #investing
23 May 15 00:33:12
AVY Avery Dennison Corp. Filings http://t.co/tUIvplpDdJ $AVY $COPX $IEF $ICLD #AVY #stockmarket #nasdaq
23 May 15 00:32:21
ATML Atmel Corp. 52Wk Low http://t.co/bxjri8TNAH $ATML $COPX $RSX $JD #ATML #stock #stock
23 May 15 00:32:18
ALKM Alkame Holdings, Inc. Day Low http://t.co/p3MQwyuJuw $ALKM $TBT $COPX $BLUE #ALKM #pennystocks #investing
Glen Stally
21 May 15 02:11:17
RT @IHPosts2: EEM iShares MSCI Emerging Markets Stock Forum Click Here -> http://t.co/U6c99PYsDo Trending $EEM $PBMD $TSLA $COPX #EEM #inv…
21 May 15 00:53:12
XLF Financials Select Sector SPDR Investor Opinions Click Here -> http://t.co/EYS47Z6Kb0 Trending $XLF $AGEN $COPX $XLP #XLF…
21 May 15 00:52:35
VZ Verizon Communications Open Click Here -> http://t.co/WZszl2k2kU Trending $VZ $AGG $COPX $PBY #VZ #tradeideas #tradeideas
21 May 15 00:52:10
WMT Wal-Mart Stores, Inc. Shares Click Here -> http://t.co/zIDKFCDyts Trending $WMT $COPX $NOK $GE #WMT #stock #nasdaq
Stock Forums
21 May 15 00:52:09
XLF Financials Select Sector SPDR News Click Here -> http://t.co/mMhAhLtmXE Trending $XLF $COPX $XLB $GNCA #XLF #invest #tradeideas
Investors Hangout
21 May 15 00:50:37
UVXY ProShares Ultra VIX Short-Term Futures ETF Current Price Click Here -> http://t.co/CQXQ0PAPub Trending $UVXY $AVV.L $WFC $COPX…
21 May 15 00:49:34
V Visa Inc. Dividend Click Here -> http://t.co/30h1j2OHnF Trending $V $FXY $KO $COPX #V #pennystocks #pennystocks
Investors Hangout
21 May 15 00:49:33
USO United States Oil Fund, LP Ex-Div Date Click Here -> http://t.co/P8m4YFcf11 Trending $USO $EWH $MON $COPX #USO #stockmarket…
  +Follow July 23, 2013 4:42PM



blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.

Login or Register