Freeport-McMoRan is a leading international mining company primarily engaged in the extraction and production of copper, gold, and molybdenum
The company operates large-scale mining operations in various regions, including North America and South America, where it focuses on delivering high-quality metal resources. Beyond mining, Freeport-McMoRan is involved in exploration activities to identify new mineral resources and employs innovative techniques to enhance sustainability and efficiency in its operations. The company's commitment to responsible resource development reflects its dedication to minimizing environmental impact while providing essential minerals that contribute to numerous industries worldwide.
According to a Bloomberg report, copper tariffs may be implemented sooner than Trump’s 270-day deadline, in contrast to the President’s first term, when steel and aluminum tariffs followed a 10-month review process.
Wall Street’s recovery from its recent technical correction paused for a breather on Tuesday, as investors awaited more clarity on tariff developments and digested a downbeat consumer confidence report.
Copper prices soar to record highs as traders bet on China's recovery and react to tariff risks. Physical buying and dollar weakness also fuel the rally.
JP Morgan upgraded FCX to Overweight with price target of $52 from $48, citing sustained premium pricing and supply constraints, and potential protective measures for US copper imports.
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The comments come after Trump directed the Commerce Department to investigate whether copper imports should be subject to tariffs on national security grounds last week.
