Why Shares in Copper Miner Freeport-McMoRan Surged in February
Shares in copper miner Freeport-McMoRan (NYSE: FCX) rose 26% in February according to data from S&P Global Market Intelligence. The move is the result of two related factors.
First, the price of copper rose through the month from around $3.56 per pound to around $4.10 per pound. Although it's only a one-month movement, it continues a remarkable recovery from a low of around $2.20 in March 2020. The rise in copper prices is a function of the improvement in the global economy, with the metal seen as being one of the most economically sensitive commodities.
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Source Fool.com
