🟢 Copper Miners ETF (COPX) is trading 4.5% up today on constrained smelter feedstock

COPX is trading at $93.96 (+4.48%) as copper strengthens on constrained smelter feedstock.

• Copper futures were quoted at $6.5728, versus a $6.4690 previous close.
• Declining inventories and expectations that Chinese refined copper output will fall for a second consecutive month support the move.
• The move is sector-wide, not company-specific: supply disruptions and historically tight inventories support miner valuations; LME inventory relief and softer Chinese demand counterbalance, but total stockpiles remain constrained. Major U.S. indexes are only modestly higher.