United States Copper Index Fund

CPER

Market cap $786M

ETFs like COPX are gaining attention as copper outpaces gold and silver, fueled by AI data center demand and a bullish long-term supply-demand outlook.

Antofagasta PLC (LSE:ANTO), Fresnillo PLC (LSE:FRES) and Metlen Energy & Metals PLC (LSE:MTLN) were among the strongest risers in the FTSE 100 on Tuesday morning, carried higher by a surge in copper and gold prices driven by tightening supply and robust demand.

Critical Mineral Resources PLC (LSE:CMRS, FRA:98J) said it has uncovered further near-surface copper and silver drill results at its Agadir Melloul project in Morocco, as well as updating on progress on an internal block model ahead of a maiden resource estimate targeted for the third quarter of 2026. Headline intersections include 9.7 metres at 0.74% copper and 4.46 grams per tonne silver from 25.2 metres depth in hole BH157, which contains a higher-grade interval of 3.6 metres at 0.98% copper and 6.22g/t silver.

Andrew Groves, Chairman at Copper Intelligence, joined Bloomberg Businessweek Daily to discuss copper's role in powering the AI boom. As well as how the demand for copper is exceeding the global supply.

As artificial intelligence reshapes the global economy and electrification accelerates, copper's status as the foundational metal of the 21st century becomes magnified. Demand is surging, yet domestic U.S. supply continues to lags after decades of stagnation.

Critical Mineral Resources PLC (LSE:CMRS, FRA:98J) this week outlined continued progress at its Agadir Melloul copper project in Morocco, with chief executive Charlie Long highlighting strong drilling results, an upcoming maiden resource estimate and ambitions to move into production within three years. Speaking to Proactive, Long described Morocco as one of Africa's most attractive yet underexplored mining jurisdictions.

Copper's move toward $6.25/lb is improving margins for miners, but Neil Adshead said the industry's core supply problem remains unchanged: getting new tonnes into the market is still slow, expensive, and difficult.

Copper refining now has a Strait of Hormuz problem.

Oscillate PLC (LSE:SRVL), the AIM-bound shell company rebranding as Serval Resources, has completed the acquisition of Kalahari Copper and begun trading on London's junior market, raising nearly £3 million to fund exploration across two emerging African copper belts. The company's shares began trading on AIM at 8 am today under the ticker SRVL, having previously been listed on the Access segment of the AQSE Growth Market.

In-line jobless claims and strong PMI prints give Kevin Green confidence in a U.S. economy making resilient steps forward. Where he's not confident: the software sector.