Freeport-McMoRan gains as copper hits a record high
+5.35% to $76.62 from $72.73
What moved FCX
- Freeport-McMoRan shares rose about 6-7% as three-month copper on the London Metal Exchange touched an intraday all-time high of roughly $14,694 per metric ton.
- The move topped copper’s previous 2026 record of about $14,528 per ton, set earlier this year.
- Management has said each 10-cent move in the copper price is worth about $390 million in annual EBITDA for the company.
Sources: ad-hoc-news.de (dpa-AFX)