Investors dig into Global X’s Copper Miners ETF as commodity hits high

Australian investors have been taking advantage of the rise in the copper price, which hit record levels this week on Trump’s 50% tariff on the commodity, by investing heavily in Global X ETFs‘ Copper Miners ETF (WIRE) – the only ETF listed in Australia providing exposure to copper miners.

Donald Trump has announced a 50% tariff on copper effective 1 August 2025. This was a major surprise to the financial markets which had expected tariff rates on copper to be applied in-line with steel and aluminum at 25%.

Copper futures on the COMEX hit all-time highs of US$5.90 after spiking as much as 17% on the news. “The latest wave of last-minute import activity is expected to trigger a broad-based rally in global copper prices, as an already tight supply landscape faces renewed pressure,” said Global X ETFs investment strategist Justin Lin.

“We have seen strong inflows into WIRE over the past three-months ever since Liberation Day as investors bet that copper demand will be resilient despite tariff-related economic risks.

“Q2 flows into WIRE was the strongest quarter of flows since the third quarter of 2024, the lead up to US elections, reaching a total $23.7 million, compared to just $3.2 million in the first quarter and 2025 and $2.7 million of outflows in the fourth quarter of 2024.

“The best way for local investors to get exposure to copper miners is through an ETF. The biggest copper miners are all listed on offshore exchanges so there are very few local opportunities for Australians to invest in copper miners,” Lin said.

Global X‘s Copper Miners ETF (WIRE) provides investors with access to a global basket of copper miners which stand to benefit from being a key part of the value chain facilitating growth in major areas of innovation such as technology, infrastructure and clean energy.

“US copper premiums are likely to widen even further from already elevated levels as domestic buyers are now incentivised to continue importing copper even at premiums ranging from approximately 25% to 35% above global prices, compared to an average premium of around 10% over the past six months.

“The US domestically produced around 850,000 tonnes of copper in 2024 and consumed 1.6 million tonnes. This means that around 50% of US copper demand over the next few years must be imported either now, or at tariff- affected prices in the future,” Lin added.