“Moreover, as a forward indicator to world GDP growth, January’s copper users data point to a marked slowdown in the first half of 2019. Copper is used in a variety of sectors, including electronics, transport and construction. A downturn in these areas can lead to a notable rippling effect across the global economy,” notes Markit.

JJC is up 8% over the past month, but still resides more than 13% below its 52-week high.

ETF investors can also gain exposure to the metals and mining space through miner-related ETFs, such as the SPDR Metals & Mining ETF (NYSEArca: XME), which is designed to track the broad metals and mining segment, and the the Global X Copper Miners ETF (NYSEARCA: COPX), which takes a more focused approach to copper miners.

For more information on the copper market, visit our copper category.