|Bid||17.21 x 1200|
|Ask||18.80 x 1000|
|Day's Range||18.05 - 18.17|
|52 Week Range||15.94 - 21.00|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.44|
|Expense Ratio (net)||0.80%|
Investors speculating on the copper market have a lot of options, but one of the easiest is through ETFs and global forecasts for copper prices are upbeat.
When comes to the metals these days, those that fall into the “precious” camp are getting all the attention. Investors have flocked to gold, silver and even pallidum as volatility has taken hold of the market. And there’s nothing wrong with that. But what they may want to do is take a look at another red-hot metal. We’re talking about copper. After getting hit during last year’s market swoon, copper is setting itself up for a nice rebound. Several bullish tailwinds are set to propel prices for metal higher in the upcoming year or so. And yet, the metal seems like a bargain when compared to its precious sisters. For investors, taking copper ETFs for a spin makes a ton of sense.
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Copper prices and related copper ETFs retreated Tuesday on renewed trade war concerns after President Donald Trump threatened additional tariffs on Chinese goods. On Tuesday, the iPath Bloomberg Copper Subindex Total Return ETN (JJCTF) fell 1.6%, United States Copper Index Fund (CPER) dropped 1.1% and iPath Bloomberg Copper Subindex Total Return ETN (NYSEArca: JJCB) was flat. Both JJCTF and CPER broke back below their short-term trend lines at the 50-day simple moving average.
Copper prices and related exchange traded products have held up despite the falloff in crude oil prices, but some are growing concerned that global troubles could drag down the industrial metal as well. Over the past three months, the iPath Bloomberg Copper Subindex Total Return ETN (JJCTF) rose 7.2%, United States Copper Index Fund (CPER) gained 5.8% and iPath Bloomberg Copper Subindex Total Return ETN (NYSEArca: JJCB) increased 6.1%. Copper for November delivery added more than 3% this month, compared to the 12% drop off in Brent crude.
Commodity producers have been tightening their belts and cutting back, leading to a prolonged period of underinvestment and potentially fueling higher prices in raw materials and related exchange traded products ahead. Portfolio managers project that the price of copper, nickel and aluminum could surge past prior records, or over 40% current levels, in the coming years, the Wall Street Journal reports. After an extended period where commodity producers have not expanded into new projects and mining sites, the dwindling supply could push up prices.
Copper prices and metal-related exchange traded products weakened Tuesday as anxiety over the Chinese economy continues to weigh on the demand outlook. On Tuesday, the iPath Bloomberg Copper Subindex Total Return ETN (JJCTF) declined 0.1%, United States Copper Index Fund (CPER) fell 0.1% and iPath Bloomberg Copper Subindex Total Return ETN (NYSEArca: JJCB) decreased 1.7%. Meanwhile, Comex copper futures were 0.3% lower to $2.78 per pound.
Increasing prices and decreased global supply have been factors helping to drive interest in copper investments, with the metal hitting a 4-1/2 year high in June. However, copper prices have slipped about 15% since hitting those multi-year highs, in response to concerns about the damage to global economic growth – amid the ongoing trade war between the United States and its partners.
Copper-related exchange traded products plunged Wednesday, with the copper metal set to dip into bear-market territory, as concerns over a global economic slowdown weighed on the demand outlook. On Wednesday, the iPath Bloomberg Copper Subindex Total Return ETN (JJCTF) declined 5.2%, United States Copper Index Fund (CPER) fell 3.9% and iPath Bloomberg Copper Subindex Total Return ETN (NYSEArca: JJCB) decreased 4.7%. Meanwhile, Comex copper futures dropped 4.0% to $2.575 per pound, it's lowest level in over a year.
Trade tensions, especially between the world’s two largest economies, have been taking a toll not only on the equity world but also on the commodity space. In fact, the escalating tit-for-tat tariff threats pushed the Bloomberg Commodity Index, which measures the returns on 25 raw materials down by 8.9% from the latest peak in late May.Source: Shutterstock
This week, investors took a pause from geopolitics despite a historic summit between the leaders of the U.S. and North Korea, turning their attention to the ETF market.
After touching a near four-year high in 2017, copper prices, along with related exchange traded products, have weakened this year, underperforming the broader commodities market. Copper prices have declined 5.9% in 2018, with Comex copper futures now trading around $3.121 per pound. The metal is now underperforming the benchmark S&P GSCI Index of 24 commodities by its widest margin over the last two decades, other than the start of 2016, reports Amrith Ramkumar for the Wall Street Journal.
OAKLAND, Calif., May 3, 2018 /PRNewswire/ -- USCF today announced it has launched the USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund ("SDCI" or the "Fund") with SummerHaven Index Management LLC (SummerHaven), a Stamford, CT based index management firm that has developed indicies in the commodities space. The Fund, an actively managed exchange-traded fund (ETF), will use the SummerHaven Dynamic Commodity IndexSM as its benchmark, which is also the benchmark utilized by the firms' first collaboration, the United States Commodity Index Fund (NYSE Arca: USCI). SDCI seeks long-term total return.