Plunging Copper Price Sends Freeport Mcmoran In Downward Spiral

Plunging Copper Price Sends Freeport Mcmoran In Downward Spiral Plunging copper price sends freeport mcmoran in downward spiral by dexter tan last week, copper prices hit a 6 year low, sending share prices of freeport mcmoran (fcx), the world’s largest publicly traded copper producer, to its lowest level since 2009. coincident with the drop in market cap, the rmi. Copper, which serves as bhp’s second largest revenue generator after iron ore, experienced a 2.0% decline overnight, settling at us$9,945 per tonne on june 4. despite still hovering near historic highs, the copper price has retraced about 9% since may 20. similarly, the iron ore price recorded a 2.1% drop overnight, reaching us$107.65 per tonne.

Freeport Mcmoran Triples Profit With Record Copper Prices Traders Freeport mcmoran is moving cautiously on a long standing proposal to roughly double production capacity at its copper molybdenum mine in bagdad, arizona, to as much as 400 million pounds per year. Freeport mcmoran (nyse: fcx) often lives and dies, so to speak, with movements in copper prices. the last two plus months have felt like the latter rather than the former for shareholders in the. Freeport mcmoran (fcx) company description: founded in 1987 and based in arizona, freeport mcmoran, inc. is a leading mining company, and focuses on exploring copper, gold, and molybdenum. Freeport mcmoran inc. (nyse:fcx) reported a strong q1 2024 with adjusted ebitda of $2.5 billion and operating cash flow of $1.9 billion. this positive performance was driven by a favorable copper.