# Copper

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14h

Will 2019 be the year of King Copper? #Copper miners got upgraded by big banks last week as sales of electric vehicles – which use three to four times the amount of the red metal as traditional vehicles – are booming in China. ow.ly/UEAa30nKUML

Copper on a bounce and out of sync with the US 10 Treasury yield.

Big volume coming into Global Copper Miners ETF \$COPX Big Money getting their positions in.

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• Hi, I have encountered a discrepancy between my theoretical PnL calculation and the PnL reported in my trade history. I would appreciate some assistance in understanding the difference. Here are the details of the trade: Currency Pair: USD/MXN Number of Contracts: 10 Contract Size: 100,000 USD Opening Price: 17.79107 Closing Price: 17.97692 Reported PnL: \$10,283.10 Conversion Rate Used: 0.0553301262247 USD/MXN Theoretical PnL Calculation: Change in Price: 17.97692 - 17.79107 = 0.18585 MXN/USD PnL per Contract: 0.18585 * 100,000 = 18,585 MXN Total PnL in MXN: 18,585 * 10 = 185,850 MXN Converted PnL in USD: 185,850 / 17.97692 ≈ \$10,338.2 Considering the theoretical PnL is approximately \$10,338, I am trying to understand why the reported PnL is \$10,283.10. I noticed that when I multiply the PnL in MXN by the conversion rate used, I find the reported PnL, . but I do not understand where this value comes from. Could you please help me clarify how the conversion rate of 0.0553301262247 USD/MXN was determined and why it differs from the typical market rates around the time of the trade? Thank you very much!
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