Global X Copper Miners ETF (ASX:WIRE) $22.69

Copper (Cu) has experienced a volatile few weeks as the Iran conflict brought into question global economic growth, even though it’s underpinned by structural demand from industrial uses, particularly global electrification and the AI buildout. At MM, we remain firm believers in the Cu story over the coming years and last month increased our exposure to Sandfire Resources (SFR) and bought Evolution Mining (EVN) to increase our exposure to the industrial metal in the Active Growth Portfolio after the sector’s 32% correction from its late January high. A close above $24 would be a bullish technical trigger.

• We are initially targeting the $30 area for the WIRE ETF over the coming year (s).