QUOTE AND NEWS
TheStreet.com  11 hrs ago  Comment 
NEW YORK (TheStreet) -- Freeport-McMoRan stock is falling by 7.34% to $9.85 in late morning trading on Tuesday, after oil and copper prices declined on weaker Chinese manufacturing data. WTI crude is down 6.48% to $46.01 per barrel, while...
Benzinga  12 hrs ago  Comment 
The share price of Freeport-McMoRan, Inc. (NYSE: FCX) has declined almost 58 percent year-to-date. Citi’s Brian Yu has downgraded the rating on Freeport-McMoRan from Buy to Neutral, while lowering the price target from $20 to $12. The...
Forbes  Aug 31  Comment 
There is a sense in the wider market that price correction of a whole host of commodities from copper to crude oil will not turn into an uptick anytime soon. Neither were the price declines in sync, nor is the uptick going to be.
Forbes  Aug 31  Comment 
An analysis of copper's charts to determine its next short-term move.
NPR  Aug 30  Comment 
A vast archaeological site sits atop one of the world's biggest untapped copper deposits. Afghanistan must decide which resource will be a greater boon.
Wall Street Journal  Aug 28  Comment 
Heard on the Street: Carl Icahn has taken a stake in Freeport-McMoRan, the copper miner which recently has been a hive of activity in terms of cutting costs and addressing concerns about its balance sheet.
The Australian  Aug 27  Comment 
Copper futures have been boosted by a Chinese market rally which lifted commodities across the board.
CNNMoney.com  Aug 27  Comment 
China's insatiable appetite for metals like copper is falling off a cliff. It's destroying prices of raw materials.
newratings.com  Aug 27  Comment 
PHOENIX (dpa-AFX) - Freeport-McMoRan Inc. (FCX) announced it has revised capital and operating plans in response to the recent decline in copper prices resulting in reduced capital expenditures, lower production levels and lower operating,...




 


Copper is a metal used extensively as a heat and electrical conductor, as well as a component in metal alloys, most notably brass and bronze. Annual world production is projected to 18.4 million metric tons in 2008.[1]

Copper is used extensively for electrical wiring and plumbing in buildings. A good overview on the use of copper can be found on the webpage of the International Wrought Copper Council (IWCC).

Copper is known to have antimicrobial properties. It is also an important nutrient. It is widely believed that copper jewelry can help wearer conquer diseases.

The chart at left shows continuos front-month futures prices for High Grade Copper traded on the COMEX.

Prices and Delivery Dates

High Grade Copper futures contracts are traded on the COMEX under ticker symbol HG and are delivered every month of the year. (For more information on commodity tickers, check out the commodity ticker construction page.)

Copper Producers

The four largest copper producers are[2]

Key Trends and Forces

Global Economic Downturn

The usage of copper may be significantly reduced in the current downturn.

Emerging Economies

Improving living conditions and expansion of infrastructure require electrification of houses, manufacturing facilities, and offices. Further copper is required in electrical powerplants, transformation and transport of the energy and for the extension of public transport.

New Electrification Wave

Improved comfort functions and hybrid powertrains require increased amounts of copper to be build into vehicles. Plugin hybrids are going to increase the demand for electric power from the grid. The use of solar panels on buildings increases copper usage in the building sector.

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References

  1. International Copper Study Group - Forecast 2008/2009, October 2008
  2. Freeport McMoRan Presentation, November 2008
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