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Copper
The JSE has introduced the listing of a Copper futures contract which is quoted in Rand and linked to the COMEX listed (a division of NYMEX) product on SAFEX. The listing programme will ensure that there are always two expires available for trade. The contract months to be listed are March, July, September and December.
Copper has been mined for the past five thousand years and has become prolific in our lives and critical to the continuation of our world as we know it. It is the third most used metal after iron and aluminium and used in the production of bronze.
The metal is currently used in a variety of base applications ranging from electrical wiring to cooking implements. Due to its predominant use in the base industrial economy it is often affected by cyclical economic factors as well as supply and demand.
The SAFEX listed contract price is calculated using the USD price together with the ZAR forward points which translate into a ZAR price per ounce.
One contract is equivalent to 2500 pounds with the price reflecting the price per pound.
The JSE Fact sheet is available HERE
What commodity futures are available?
The commodities available for trade are:
Contact a broker for the flexibility and convenience of having a skilled broker trade commodity futures on your behalf.
