Rodman Barney

US Copper

Copper, one of the oldest and easily mined commodities, is the world’s third most widely used metal, after iron and aluminum. Five thousand years ago, people learned to alloy copper with tin, producing bronze and giving rise to a new age.

Copper today is primarily used in highly cyclical industries such as construction and industrial machinery manufacturing. Profitable extraction of the metal depends on cost-efficient high-volume mining techniques, and supply is sensitive to the political situation particularly in those countries where copper mining is a government-controlled enterprise.
Copper futures are hedging tools that offer price mitigation opportunities to a range of copper market participants. They also provide global price discovery and opportunities for portfolio diversification.

Product Symbol HG

Venue CME Globex, CME ClearPort, Open Outcry (New York)

Hours (All Times are New York Time/ET)	CME Globex:	Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
	CME ClearPort:	Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
	Open Outcry:	Monday – Friday 8:10 a.m. – 1:00 p.m. (7:10 a.m. – 12:00 p.m. CT)

Contract Size 25,000 pounds

Price Quotation U.S. Cents per pound

Minimum Fluctuation $0.0005 per pound

Termination of Trading Trading terminates on the third last business day of the delivery month.

Listed Contracts Trading is conducted for delivery during the current calendar month and the next 23 calendar months.

Settlement Type Physical