COPX is trading at $72.00 (-3.59%) as copper miners face a broad pullback following a retreat from recent record highs in metal prices.
- Slower China GDP growth and renewed inflation concerns are weakening the global demand outlook for industrial metals.
- Hawkish Fed commentary and higher oil prices are adding to sector-wide selling pressure as traders lock in profits.
- The move fits a broader commodities reversal, with miners losing ground as markets reprice growth-sensitive assets.