(Trading symbol HG) An industrial metal traded as a commodity on both the spot and the futures markets. On COMEX, a contract unit of copper equals 25,000 pounds. contract prices for copper move in minimum increments of $.0005, or $.05, per pound which means that a $.01 move in the price equals $250 per contract. There are exceptions, but the exchange will call a halt to trading if the price on copper fluctuates more than $.20 per pound ($5000 per contract) above or below from the previous day's closes. See minimum price movement.
Browse by Subjects
New York Mercantile Exchange (NYMEX)
Commodities Exchange Inc. (COMEX)
See All Related Terms »
American Psychological Association (APA):
Chicago Manual of Style (CMS):
Modern Language Association (MLA):