Yahoo Finance
These are good times for copper producers.
Demand for their product is decidedly robust, particularly for copper coil or copper plate or the ultra-pure copper broken up literally into atoms to make tiny, high-speed computer chips.
Or all the wiring and related equipment used in data centers.
Copper is trading at $6.32 per pound in New York and $13,895 per ton in London, a bit below all-time highs reached in May.
The price is up more than 700%, whether in New York or London, since the end of 1999,Macrotrendsnoted.
Freeport-McMoRan (FCX), the biggest U.S.-based copper miner, reported a 28% profit gain in the second quarter on July 23, despite a 7.3% decline in revenue,Barron'sconfirmed.
The Phoenix, Ariz., company's shares were down 2.6% to $63.60 at the time of writing on July 23, but are up 24% so far in 2026.
Related: The ultimate AI proxy trade isn't a tech stock—It's something more humble The company operates the giant Grasberg mine in Indonesia and has mines in Arizona and New Mexico, as well as Peru and Chile in South America.
Freeport-McMoRan is the largest global producer of molybdenum (used to make high-strength steel), andthe company notesthat Grasberg is one of the largest single gold deposits in the world.
Copper is a uniquely ubiquitous mineral, believed to have been present on Earth since the planet's early formation.
And it has proven useful throughout the ages, starting as a decorative metal, becoming used in ancient weapons, and now being prized for its ability to transmit information and power.
The thing is that the world needs copper just about everywhere: To expand the electrification of the world.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
Comments
Post a Comment