“The increase in copper stocks gives reason to think supplies are plentiful, and China’s growth is not what people expected it to be,” Harry Denny, a broker at Hoboken, said in the article. “The market is well-supplied, and we’re going to continue to see pressure on prices.”
Other copper funds include iPath Pure Beta Copper ETN (NYSEArca: CUPM), which is down 12.0% year-to-date, and the United States Copper Index ETF (NYSEArca: CPER), which is down 11.0% year-to-date.
iPath AIG Copper Total Return Sub-Index ETN
For more information on copper, visit our copper category.
Max Chen contributed to this article.