Hong Kong Unveils First Dedicated Copper Miners ETF Amid Record Prices
Mirae Asset Global Investments has launched Hong Kong's first dedicated copper miners exchange-traded fund, giving investors access to a portfolio of global companies exposed to copper production. The Global X Copper Miners ETF, listed on the Stock Exchange of Hong Kong under stock codes 3014 for Hong Kong dollar trading and 9014 for US dollar trading, tracks the Solactive Copper Miners Index.
The launch coincides with an extraordinary period for copper as prices surge to record levels. Tight inventories outside the US, weak mine supply, potential trade restrictions, and long-term demand from electrification and digital infrastructure are supporting prices. In September, LME copper reached a fresh record around $14,700 per ton.
Copper's longer-term supply outlook remains challenging due to declining ore grades, higher development costs, and lengthy approval and construction periods for major new projects. The latest critical minerals supply projections estimate a 25% copper supply gap by 2035 under the current project pipeline.