So, yes... Yes it will.
Reminder of the various ele types:
DC (desert, Yomotsu and Terort Skitas spawn): High physical and HP; only has 2 ore, not the 25 of others.
Shadow: Immune to most magic, pets. Things known to affect it - Earthquake, Searing Wounds - possibly others.
Copper: 50% reflect magic and melee back to sender.
Bronze: ranged "steam" attack
Gold: *
Agapite: *
Verite: Has the ability to insta-break any item on the attacking PC, as long as the item isn't blessed, insured or cursed.
Valorite: ALL of the above.
* These have no active special ability (much like the DC), but have higher stats (either HP, resists, or STR). Forget which has which at the moment, and don't feel like looking.