COPX Posts Record 11-Week Losing Streak With a 24.7% Drawdown
As seen on the 24/7 Wall St. homepage on November 9, 2026.
Copper miners have never gone 11 weeks without a winning week until now, and the 24.7% drawdown says equity investors are pricing in far weaker demand than the structural copper shortage story suggests.
BREAKING: The Global Copper Miners ETF, $COPX, has declined for 11 consecutive weeks, its longest such streak since its April 2010 inception. This surpasses the previous record of 10 consecutive weekly declines set in 2015. Over the current streak, $COPX has dropped -24.7%, to https://t.co/9EGvHKq8t4
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The Global Copper Miners ETF has strung together 11 consecutive weekly declines, the longest run in its history since the April 2010 inception.
Losses of that length point to equity investors repricing the copper demand outlook rather than rotating within the sector.
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The structural copper shortage thesis has been a durable bull case for miners, yet the market is currently weighting near-term demand weakness far more heavily.
Eleven weeks of uninterrupted losses draws contrarian buyers and momentum sellers at the same time, so keep an eye on the stock.
Mentioned: COPX