copper

Definition

(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.

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London Metal Exchange Commodities Exchange Inc. (COMEX)