If you noticed the bump in copper prices on Tuesday, you were not alone. A physically-backed exchange traded fund (ETF) that would own the metal got the go-ahead to start trading on Friday on the  London Stock Exchange.

The ETF could have a global impact on copper prices, because as with all physically-backed ETFs, each share would be backed by a share of the metal, which would be stored in vaults and unavailable to consumers, says The Wall Street Journal.

Combine that with growing industrial demand in developed and emerging markets as well as a weakened dollar, and it all may ultimately add up to even higher prices than we’re seeing right now. [4 Things Driving Copper ETFs.]

There’s talk of a physically-backed copper ETF here in the United States, but it could be awhile before the market actually sees one. For now, you can get copper exposure via the miners or through futures in these funds:

  • PowerShares DB Base Metals (NYSEArca: DBB)
  • First Trust ISE Global Copper (NASDAQ: CU)
  • Global X Copper Miners (NYSEArca: COPX)

For more articles about copper, visit our category.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.