Copper is still red-hot.
For one, the metal is in the early stages of what appears to be a multi-year bull market. With soaring demand for the copper needed in electric vehicles, the power grid, data centers and more there is significant upside potential for those companies bringing copper supplies online.
Two, copper demand, according to BHP Group, is expected to grow by a million tonnes per year until 2035, noted Mining-Technology.com. They added that, “The energy transition has seen an influx of copper-intensive technologies deployed, leading to the global production rate of copper doubling. BHP expects the copper industry to face significant challenges to supply with such drastic increases in demand.”
Three, according to analysts at UBS, copper could test $10,500 per metric ton by 2025 thanks to supply shortages and an increase in demand.
That being said, keep an eye on copper ETFs, such as:ETF: Global X Copper Miners ETF (SYM: COPX)
The Global X Copper Miners ETF (SYM: COPX) offers broad exposure to copper stocks at a lower cost.
With an expense ratio of 0.65%, the COPX ETF offers exposure to 40 copper mining stocks, including Ivanhoe Mines, BHP Group, Freeport McMoRan, Capstone Copper, and Teck Resources to name just a few.
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ETF: United States Copper Index Fund (SYM: CPER)
We can also look at the United States Copper Index Fund (SYM: CPER). With an expense ratio of 1.04%, the fund consists of copper futures contracts. Technically, after bottoming out at $25.50, it rallied to $29. Now back to $27.38, it’s offering another solid buy opportunity.
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ETF: iShares Copper and Metals Mining ETF (SYM: ICOP)
There’s also the iShares Copper and Metals Mining ETF (SYM: ICOP).
With an expense ratio of 0.47%, the ETF offers exposure to global copper and metal ore miners which should benefit from an increased demand. Some of its top holdings include Freeport McMoRan, BHP Group, Southern Copper, Lundin Mining and Ivanhoe Mines.
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Do you currently own shares of copper stocks or ETFs? Are there any other commodities you think are "red-hot" right now? Hit "reply" to this email and let us know!
