Copper
Copper Meaning:
In commodity market terminology, Copper refers to a highly malleable and ductile metal with extremely high electrical and thermal conductivity. It is used as a component in metal alloys as well as an electrical and thermal conductor. Copper has been used for thousands of years to make coins and as a building material, and the metal also has electrical applications and is used to make electromagnets, integrated circuits and electrical machines. It is found virtually everywhere and is one of the most actively-traded metal commodities.
In commodity market terminology, Copper refers to a highly malleable and ductile metal with extremely high electrical and thermal conductivity. It is used as a component in metal alloys as well as an electrical and thermal conductor. Copper has been used for thousands of years to make coins and as a building material, and the metal also has electrical applications and is used to make electromagnets, integrated circuits and electrical machines. It is found virtually everywhere and is one of the most actively-traded metal commodities.
Copper futures are traded on the COMEX division of the New York Mercantile Exchange (NYMEX), traded under the symbol HG, each contract is for 25,000 pounds of Grade 1 electrolytic copper approved by the Exchange. Prices are quoted in U.S. Dollars and cents and the minimum fluctuation is $0.0005 per pound or $12.50 per contract. The last trading day is at the close of business on the third to last business day of the maturing delivery month.