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Key Indicators Freeport Investors Should Track (Part 3 of 17) (Continued from Part 2) Copper prices
Previously, we discussed the dynamics of copper’s supply and demand. In this article, we will look at the latest trends in copper prices. Copper prices directly impact the profits of copper producers like Freeport-McMoRan (FCX), Southern Copper (SCCO), Teck Resources (TCK), and Glencore Plc. (GLNCY). Freeport currently forms 3.11% of the Materials Select Sector SPDR ETF (XLB).
Prices steady
The above chart shows the movement in spot copper prices. Prices have dropped ~6% so far in 2015, and prices of all industrial commodities have dropped in 2015. Iron ore prices are down ~12% in 2015, while aluminum has dropped more than 6%. Prices of steel products have also come down. Spot hot rolled coil prices are down by ~20% in the US markets.
Copper prices fell steeply at the beginning of 2015, although prices have recovered smartly since then. This is partially due to supply disturbances at some key copper mines.
Uneven trend
The trend in copper prices has been clearly uneven this year. Higher copper prices benefit copper producers like Freeport-McMoRan. Investors should watch copper prices closely in the coming months to understand which way copper prices are heading.
Copper prices reached their peak in 2011 and have fallen more than 40% since then. This is mainly driven by the weakness in the Chinese economy. China accounts for more than 42% of global copper consumption. Investors need to track the indicators of the Chinese economy to understand the trends for copper prices.
In the next article, we will analyze the key indicators of the Chinese copper industry.
Continue to Part 4 Browse this series on Market Realist:
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Freeport McMoRan Copper and Gold Inc.
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PRODUCTEUR |
CODE : FCX |
ISIN : US35671D8570 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Freeport McMoran est une société de production minière d'or et de cuivre basée aux Etats-Unis D'Amerique. Freeport McMoran est productrice d'or, de cuivre, d'argent, de cobalt et de molybdène au Chili, au Perou, en Indonesie et en Republique Democratique Du Congo, en développement de projets de cuivre au Perou, et détient divers projets d'exploration au Chili. Ses principaux projets en production sont CANDELARIA, EL ABRA, CHINO - MILL, HENDERSON, MIAMI - ROM LEACH, MORENCI - MILL, OJOS DEL SALADO, MORENCI et MORENCI - ROM LEACH au Chili, GRASBERG, SIERRITA et BAGDAD en Indonesie, TENKE FUNGURUME et TYRONE en Republique Democratique Du Congo et CERRO VERDE au Perou, son principal projet en développement est SAFFORD au Perou et ses principaux projets en exploration sont BAGDAD - ROM LEACH et CHINO - ROM LEACH au Perou et CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH et CLIMAX au Chili. Freeport McMoran est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 72,6 milliards US$ (68,1 milliards €). La valeur de son action a atteint son plus bas niveau récent le 06 mars 2020 à 10,00 US$, et son plus haut niveau récent le 18 avril 2024 à 50,16 US$. Freeport McMoran possède 1 448 000 000 actions en circulation. |