ASX welcomes its first Copper Miners ETF

Wed 23 Nov 22, 2:57pm (AEST)
Copper 6 Coil
Source: iStock

Key Points

  • ETF provider Global X has launched the Global X Copper Miners ETF
  • The ticker is WIRE and invests in a range of global copper oriented miners
  • The ETF pays a semi-annual divided and currently trades around the $10.00 a share

Wednesday welcomes the Global X Copper Miners ETF (ASX: WIRE) to the ASX, the first of its kind for local investors.

WIRE provides investors access to a 'global basket of copper miners' which stand to benefit from the electrification megatrend.

WIRE pays a semi-annual dividend, pending more details about the payout. The ETF is currently trading around the $10.00 mark.

Copper 101

Copper prices are often viewed as a barometer of global economic activity, given its acute sensitive to the ebb and flow of industrial demand. As the global economy slows, copper prices tend to follow.

Copper consumption is dominated for its industrial applications across equipment, building construction and infrastructure. Those three segments account for approximately two thirds of global copper consumption.

According to Global X, almost one third of global copper mine production comes from Chile, while 41% of refined copper production occurs in China.

Copper prices are down -18.4% year-to-date amid a slowdown in global industrial activity and rising interest rates.

Copper price chart
Copper price 1989-2022 (Source: TradingView)

"Over the longer term, the global energy transition is set to bolster the demand for copper, due to its relatively heavy use in renewable energy technologies, battery storage and electric vehicles," said the Australian Government's commodity forecaster, the Office of the Chief Economist.

Despite medium to long-term supply concerns, copper prices remain anchored to the underlying trends in global industrial activity. Could this change and the metal begins to get priced as a 'critical metal'?

Top exposures

WIRE currently holds 40 companies, most of which are based in Canada (32.5%), Australia (13.1%) and China (7.8%).

Its top 10 holdings as a percentage of net assets include:




First Quantum


Canadian copper company, ranks as the world's eighth largest copper player, according to Kitco

Freeport McMoran


World's largest producer of molybdenum and major copper producer, based in the US

Antofagasta PLC


Chilean multinational mining co, ranks as the tenth largest copper player

Zijin Mining


China-based mining multinational engaged in exploration and development of copper, gold, zinc and battery metals

Ivanhoe Mines


Canadian mining company advancing three critical metals projects in Southern Africa

Southern Copper


Integrated copper producer based in Mexico

Grupo Mexico


Mexican conglomerate that operates mining, transportation and infrastructure



Polish multinational whose a major copper and silver producer

BHP Group


No explanation needed

Lundin Mining Co


Global base metal miner based in Canada

As of 22 Nov (Source: Global X | Table: Market Index)


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Written By

Kerry Sun

Content Strategist

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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