What is the tick value for MHG?

$1.25 per tick — a 0.0005 tick size × a $2500 multiplier (point value).

What is one MHG contract worth?

One contract represents 2,500 pounds of copper. Notional value = price × $2500; use the tick value calculator with the current price for an exact figure.

Which exchange lists MHG?

Micro Copper (MHG) trades on the COMEX.

What are the trading hours for MHG?

Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:00pm–6:00pm ET.

How much margin do I need to trade MHG?

Margin is roughly one-tenth of full-size HG and varies by broker with copper volatility.

What are the MHG contract months?

MHG lists January, February, March, April, May, June, July, August, September, October, November and December. Monthly contracts are listed 24 months forward, with March, May, July, September and December contracts further out.

What does MHGZ2026 mean?

It is one specific MHG contract: the root MHG, the delivery-month code Z, and the year. Z is December, so MHGZ2026 is the December 2026 contract. The codes run F G H J K M N Q U V X Z for January through December — I and L are skipped because they read as 1 and 7 on a ticker.

What is MHG00, MHG1! or /MHG?

All three name the same thing: the continuous front-month MHG contract, written differently by different platforms. Barchart uses MHG00, TradingView MHG1!, thinkorswim and tastytrade /MHG, Yahoo Finance MHG=F, and MHG on social media is usually written $MHG. None of them is a separate instrument — each stitches together whichever dated contract is currently the front month.

How is P&L calculated for MHG?

P&L = (exit price − entry price) ÷ 0.0005 tick size × $1.25 tick value × number of contracts. Use the tick value calculator to compute this directly.

COMEX

Micro Copper (MHG) Tick Value & Contract Specs

Tick value $1.25 per tick — 2,500 pounds of copper.

Micro Copper futures (MHG) cover 2,500 pounds of copper, one-tenth of the 25,000-pound COMEX HG contract, and are quoted in US dollars per pound. The minimum tick is $0.0005 per pound, the same increment as HG, worth $1.25 per contract. A one-cent move in copper is therefore $25 on MHG against $250 on the full-size contract, which opens a market that once demanded a large unit of risk to much smaller accounts.

Copper trades as a read on global industrial demand. Construction, power grids, electric vehicles and data-centre buildout all consume it, and China accounts for around half of world consumption, so Chinese activity data, mine disruptions in Chile and Peru and changes in trade policy move the price more than anything happening elsewhere in the metals complex. That sensitivity means daily ranges can be wide relative to the tick. MHG lists monthly contracts two years forward, though the full-size market concentrates its volume in the March, May, July, September and December months and the micro tends to follow. Size off the one-cent move rather than the tick, and use the calculator below, pre-filled with MHG's specs, to turn a planned stop into dollars.

Exchange: COMEX
Contract size: 2,500 pounds of copper
Tick size: 0.0005
Tick value: $1.25
Point value (multiplier): $2500
Trading hours: Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:00pm–6:00pm ET
Margin: Margin is roughly one-tenth of full-size HG and varies by broker with copper volatility.

Open in the tick value calculator, pre-filled for MHG View the live MHG chart on TradingView

How MHG tick value works

Tick value is the dollar amount one futures contract gains or loses when the price moves one minimum increment (one tick).

tick value = tick size × multiplier. For MHG, that is 0.0005 × $2500 = $1.25 per tick, per contract.

One contract represents 2,500 pounds of copper. P&L for a move from entry to exit is (exit − entry) ÷ tick size × tick value × contracts.

MHG contract months and ticker symbols

A futures ticker is three parts: the root, a one-letter delivery month, and the year. MHGZ2026 is the December 2026 MHG contract. The month letters skip I and L, which would read as 1 and 7 on a ticker.

Delivery month codes, with the months MHG lists marked
Code	Month	Listed for MHG?
F	January	Yes — MHGF
G	February	Yes — MHGG
H	March	Yes — MHGH
J	April	Yes — MHGJ
K	May	Yes — MHGK
M	June	Yes — MHGM
N	July	Yes — MHGN
Q	August	Yes — MHGQ
U	September	Yes — MHGU
V	October	Yes — MHGV
X	November	Yes — MHGX
Z	December	Yes — MHGZ

Monthly contracts are listed 24 months forward, with March, May, July, September and December contracts further out.

Which MHG contract am I looking at?

Most charts default to the continuous front-month series rather than a dated contract — one stitched-together chart that rolls to the next month as the current one nears expiry. Every platform spells it differently, which is why the same contract appears under so many names.

Written as	Platform	Meaning
MHG1!	TradingView	Continuous front-month contract. "2!" is the next one out, and a dated contract is written in full, e.g. MHGZ2026.
MHG00	Barchart	Continuous front-month series. "MHGZ26" style codes name a specific month and year instead.
MHGc1	Refinitiv / Reuters	Continuous front month; c2 is the second month out.
/MHG	thinkorswim, tastytrade	The leading slash marks it as a future rather than a stock. A specific month is /MHGZ26.
MHG=F	Yahoo Finance	The "=F" suffix denotes the front-month futures series.
$MHG	StockTwits, social	A cashtag, not an exchange symbol. It usually means the front month, but it is informal and ambiguous.

A dated code such as MHGZ26 always means one specific contract; the continuous forms never do. Check which you are quoting before comparing a price to someone else’s — around a roll they differ.

Frequently asked questions

What is the tick value for MHG?: $1.25 per tick — a 0.0005 tick size × a $2500 multiplier (point value).
What is one MHG contract worth?: One contract represents 2,500 pounds of copper. Notional value = price × $2500; use the tick value calculator with the current price for an exact figure.
Which exchange lists MHG?: Micro Copper (MHG) trades on the COMEX.
What are the trading hours for MHG?: Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:00pm–6:00pm ET.
How much margin do I need to trade MHG?: Margin is roughly one-tenth of full-size HG and varies by broker with copper volatility.
What are the MHG contract months?: MHG lists January, February, March, April, May, June, July, August, September, October, November and December. Monthly contracts are listed 24 months forward, with March, May, July, September and December contracts further out.
What does MHGZ2026 mean?: It is one specific MHG contract: the root MHG, the delivery-month code Z, and the year. Z is December, so MHGZ2026 is the December 2026 contract. The codes run F G H J K M N Q U V X Z for January through December — I and L are skipped because they read as 1 and 7 on a ticker.
What is MHG00, MHG1! or /MHG?: All three name the same thing: the continuous front-month MHG contract, written differently by different platforms. Barchart uses MHG00, TradingView MHG1!, thinkorswim and tastytrade /MHG, Yahoo Finance MHG=F, and MHG on social media is usually written $MHG. None of them is a separate instrument — each stitches together whichever dated contract is currently the front month.
How is P&L calculated for MHG?: P&L = (exit price − entry price) ÷ 0.0005 tick size × $1.25 tick value × number of contracts. Use the tick value calculator to compute this directly.

More futures contract specs

See all futures contract specs or use the futures contract & tick value calculator with any symbol or custom specs.

Specs last reviewed 2026-10-30. Exchanges can amend contract specs — always confirm against the exchange or your broker before trading.