Copper

Copper is the industrial metal priced three ways: LME in dollars per tonne, COMEX in cents per pound, Shanghai in yuan. China uses more than half, warehouse stocks are public, and a new mine takes a decade, so the price is the cycle plus the visible pile. Its reads are the PMI and the dollar, and the COMEX contract is what a copper claim copies.

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  • COMEXCOMEX is the New York exchange, part of CME Group, where benchmark gold, silver and copper futures trade. Globex runs…
  • LMEThe LME is the London Metal Exchange, started in a coffee house in 1877, where copper, aluminium, nickel and zinc are…
  • Silver futuresSilver futures are contracts on silver, mainly on COMEX in dollars per troy ounce. More than half of silver goes into…
  • Gold futuresGold futures are exchange-traded contracts on gold, the benchmark on COMEX in dollars per troy ounce, trading above…
  • Henry HubHenry Hub is the Louisiana pipeline junction where the US natural gas benchmark is priced, in dollars per million BTU…
  • ADR (American Depositary Receipt)An ADR is a receipt a US bank issues for shares of a foreign company it holds abroad, so the stock trades in New York…

Educational content only. Not investment advice. Leveraged products magnify losses as well as gains.

Where it comes up