Copper Fund Edges Up 0.13% as Freeport Slips 0.7% | Copper, Oct 16
The CPER copper fund rose 0.13% on Friday 16 October while miners fell, with Freeport down 0.74% and Southern Copper down 0.59%. The post Copper Fund Edges Up 0.13% as Freeport Slips 0.7% | Copper, Oct 16 appeared first on The Rio Times .
On Friday, October 16, copper-related funds exhibited mixed performance. The CPER fund, which tracks copper futures, increased by 0.13% to US$39.50, while the COPX fund of copper miners declined by 1.05% to US$79.98. Major copper producers all experienced declines, with Freeport-McMoRan dropping 0.74%, Southern Copper falling 0.59%, and Teck Resources decreasing 1.70%.
Sources varied on the copper price, with Trading Economics reporting Comex copper at around US$6.58 per pound, up approximately 1.1%, though confirmation of the exact settlement price was not possible. The split between the metal and the miners highlighted a lack of confidence, indicating that investors were more concerned about the broader market and its impact on industrial metals, rather than specific copper movements.
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