Copper is affordable, and has great liquidity. Copper is flexible, so it is used for pipes, wires, sophisticated electronics and as a conductor for electricity. That’s why the red metal is seen as a leading indicator for the global economy. [Copper ETF Rebounds on Euro Optimism]
Analysts have upped their price targets for copper this year, predicting that prices will hit about $4.45 a pound in 2011. [Copper ETF Weakness Raises Red Flag for Stocks]
There are several exchange traded products tracking the metal, was well as copper miners.
- First Trust ISE Global Copper Index Fund (NYSArca: CU)
- Global X Copper Miners ETF (NYSEArca: COPX)
- EGShares Emerging Markets Metals/Mining (NYSEArca: EMT)
- PowerShares DB Base Metals ETF (NYSEArca: DBB)
- iShares MSCI Chile (NYSEArca: ECH)
- iPath Copper ETN (NYSEArca: JJC)
iPath Copper ETN
Tisha Guerrero contributed to this article.