But right now, copper prices are declining. Yesterday, they fell the most in three weeks on speculation that record prices will slow demand. Stockpiles are large, and this is supporting the drop in price, Claudia Carpenter for Bloomberg reports.
There’s no physically-backed play on copper…yet, but you can get exposure to miners who do well in a high-price environment. First Trust ISE Global Copper (NASDAQ: CU) gives the bulk of its exposure to the United States and Canada, while Global X Copper Miners (NYSEArca: COPX) has Canada, Britain and Australia as its top-weighted countries.
Further, you can get your copper futures contract fix via PowerShares DB Base Metals (NYSEArca: DBB), which also owns futures on aluminum and zinc. All three metals each make up one-third of the ETF.
Tisha Guerrero contributed to this article.