“There is little to indicate a sharp drop in demand just now,” Aurubis said in a report. “In view of the continuing inadequate level of copper production, the copper price should therefore be fundamentally well buttressed against any decrease.”
Still, Freeport McMoRan Copper & Gold (NYSE: FCX) recently resumed 50% of its operations at the third-largest open pit copper mine located in Grasberg, Indonesia. [Copper Miner ETFs Rally 20% in a Week]
The First Trust ISE Global Copper Index Fund (NASDAQ: CU) and Global X Copper Miners ETF (NYSEArca: COPX) follow copper miner stocks. They finished with gains Tuesday. [Copper Miner ETFs Surge 33% from October Low]
iPath Dow Jones- UBS Copper Sub-Index Total Return ETN
For more information on copper, visit our copper category.
Max Chen contributed to this article.