JJC is an exchange traded note (ETN), not an exchange traded fund (ETF). Similar to index-based exchange traded funds, ETNs also track some sort of index as part of their investment strategy. However, an exchange traded note, like the name implies, is a type of debt note that trades on an exchange. Additionally, the underwriting bank that issues ETN shares may choose to stop share creations.

Copper currently trades around three-year highs due in part to better-than-expected global demand and outperforming economies around the world. The Global X Copper Miners ETF (NYSEARCA: COPX) is also surging on the back of copper’s ascent.

“Between $3 and $4 the copper market is bullish. Above $4 it is wildly bullish … but that’s probably not for 2018 but rather for an even longer term forecast which we will do in some 12 months from now,” according to ETF Daily News.

Barring labor strikes in Chile, copper market observers expect the market to be fairly balanced next year with a modest rise in production. Earlier this year, there was a 44-day strike at a Chilean copper mine, the longest in the country’s history. Since 2009, the country has seen three copper strikes lasting longer than a month.

For more information on Copper ETFs, visit our Copper category.