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iPath Bloomberg Copper Subindex Total Return Sub-Index ETN
Copper is a bellwether commodity. The price of the nonferrous metal reflected the health and wellbeing of the global economy. Moreover, the price of copper tends to move higher or lower with the Chinese economy. While economic growth in the world's most populous nation has slowed, GDP expansion remains around the 6% level. The trade war between the US and China weighed on the economy, causing the price of the red metal to fall to a low of $2.4675 per pound in early September on the nearby COMEX futures contract. During the same week, copper