Many industrial metals and miners rallied on the belief that China would support growth through stimulus measures, augmenting demand for metals while enticing investors to jump back in. Moreover, the depreciating U.S. dollar made USD-denominated resources cheaper for foreign buyers. The ongoing global low-yield environment also pushed investors toward more attractive assets, like commodities.
That makes JJC’s recent strength all the more notable because ETN is moving higher as the dollar does the same.
“While other industrial metals and steelmaking raw materials have jumped in value this year, the bellwether metal has advanced a modest 4% this year. The copper price hit six year lows in January following a 26% decline in 2015,” reports Mining.com.
For more information on the copper market, visit our copper category.
iPath Bloomberg Copper Subindex Total Return ETN