Copper exchange traded funds are bouncing along the low for the year and a rebound would suggest a brighter view on the global economy.

Copper prices are regaining some lost ground following the recent plunge, on the back of strong Chinese imports and a slightly optimistic U.S. outlook. [Copper ETFs Fall on Growth, Debt Concerns.]

Exchange traded products that follow copper prices and miners include iPath Dow Jones-UBS Copper Subindex Total Return ETN (NYSEArca: JJC), First Trust ISE Global Copper Index Fund (NYSEArca: CU) and Global X Copper Miners ETF (NYSEArca: COPX).

Chinese July copper imports surged 9.5%, according to Commodity Online.

Last week, the Federal Reserve stated that it will hold interest rates at near zero levels until mid-2013.

“The announcement that the Fed’s interest rate policy will remain for some time certainly supported the market and in some ways acts as a form of a brake on the decline,” said Jonathan Barratt, managing director of Commodity Broking Services.

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.