Copper ETFs
A comprehensive list of Copper ETFs trading on U.S. exchanges

Copper ETFs 5Y Performance

Copper Investing FAQ

How much Copper is used in an EV?
  • The typical electric vehicle uses 53.2kg per vehicle, according to a 2022 IEA report.
  • This is more than double the 22.3kg per vehicle used in a conventional car.

Source: IEA: The Role of Critical Minerals in Clean Energy Transitions.

Which country mines the most Copper?
  • Chile is the leading producer of mined copper, with an estimated 24% of global mine production in 2022.
  • Following Chile are Congo (10%), Peru (10%), China (9%) and the United States (6%).

Source: U.S. Geological Survey 2023 Mineral Commodity Summaries.

What is the largest Copper mine in the world?
  • The Escondida Copper mine in Northern Chile is the largest copper mine in the world.
  • The mine is located in the Atacama desert at an elevation of 10,000 feet above sea level.
  • According to owner BHP’s 2022 annual report, the Escondidada mine:
      • contains 27 billion tonnes of ore at an average grade of 0.52 per cent.
      • is targeting average annual production of 1.2 million tonnes over the medium turn.
      • has a medium term cost guidance of $1.15 per pound.
  • Mine Ownership:
      • BHP (57.5%)
      • Rio Tinto (30%)
      • JECO Corp (12.5%) – A Japanese JV majority owned by Mitsubishi
  • The mine grade has been in decline. BHP notes that for fiscal year 2022, “Escondida copper production decreased by 6 per cent to 1,004 kt primarily due to concentrator feed grade decline of 4 per cent.”

BHP’s FY 2022 Annual Report

How is Copper used in the Energy Transition?

Electric Vehicles

    • An EV uses more than twice as much copper per vehicle as a traditional car (see above).

Transmission

    • The cables and transformers used by electrical transmission rely on copper.

Renewables

    • Copper is also used to make solar PV cells and wind turbines.
What are the most commonly traded Copper futures contracts?
  • There are widely traded copper futures contracts on both the Chicago Mercantile Exchange (CME) and the London Metal Exchange (LME).
  • The CME contract is quoted in USD per pound, with a lot size of 25,000 pounds.
  • The LME is quoted as USD per tonne, with a lot size of 25 tonnes.¬†

CME Copper Futures Spec

LME Copper Futures Spec

1 tonne = 2205 pounds

Selected Copper Stocks 5Y Performance

Copper Futures USD per lb

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