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Copper Industry April Update (Part 1 of 10) Recent copper industry indicators
Copper prices were trading at $6,054 per metric ton on April 16. Copper is also known as “Dr. Copper” because analysts see copper prices as a reflection of global economic health. But there are others who say copper is just like any other industrial commodity. Copper prices reflect what other industrial metal prices do—demand–supply dynamics.
What we cover in this series
In this series, we’ll discuss recent copper industry indicators. We’ll see how copper prices have done in 2015. We’ll also discuss copper supply trends and demand.
China is the biggest consumer of copper, ditto for steel , iron ore, and aluminum. Tracking Chinese economic indicators is crucial for investors in the metals and mining space.
The SPDR S&P Metals and Mining ETF (XME) is an alternate play on the diversified metals and mining industry.
Wall Street performance
Freeport-McMoRan (FCX) lost more than 10% of its market capitalization this year. Yet, its share price rebounded by more than 7% on April 15, when US crude inventories came in lower than expected. Freeport has diversified into the energy exploration business over the last couple of years.
Teck Resources (TCK) stock has also been quite volatile amid rumors that it’s looking at a merger with Antofagasta. Both companies have now categorically denied that they’re engaged in merger talks.
Southern Copper (SCCO) is up ~5% since the start of 2015, and Turquoise Hill Resources (TRQ) is up by more than 30% over this period.
Copper prices directly impact the revenues of copper companies. In the next part of our series, we’ll analyze the latest copper price trends.
Continue to Part 2 Browse this series on Market Realist:
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VanEck Vectors Global Alternative Energy ETF
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PRODUCER |
CODE : FCX |
ISIN : US35671D8570 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Freeport McMoran is a copper and gold producing company based in United states of america. Freeport McMoran produces copper, gold, cobalt, molybdenum and silver in Chile, in Congo Dem. Rep. of, in Indonesia and in Peru, develops copper in Peru, and holds various exploration projects in Chile. Its main assets in production are CANDELARIA, EL ABRA, CHINO - MILL, HENDERSON, MIAMI - ROM LEACH, MORENCI - MILL, OJOS DEL SALADO, MORENCI and MORENCI - ROM LEACH in Chile, GRASBERG, SIERRITA and BAGDAD in Indonesia, TENKE FUNGURUME and TYRONE in Congo Dem. Rep. of and CERRO VERDE in Peru, its main asset in development is SAFFORD in Peru and its main exploration properties are BAGDAD - ROM LEACH and CHINO - ROM LEACH in Peru and CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH and CLIMAX in Chile. Freeport McMoran is listed in Germany and in United States of America. Its market capitalisation is 2.4 billions as of today (€ 2.1 billions). Its stock quote reached its lowest recent point on March 06, 2020 at 10.00, and its highest recent level on October 10, 2024 at 49.54. Freeport McMoran has 47 442 200 shares outstanding. |