Copper Falls: Freeport, Southern Copper Drop Thursday
Copper tracked by CPER slipped 0.42% Thursday. Southern Copper and Freeport-McMoRan fell harder as investors weighed a softer US inflation print against global The post Copper Falls: Freeport, Southern Copper Drop Thursday appeared first on The Rio Times .
Copper prices slipped on Thursday, with the CPER tracker settling at a lower US$39.85, a 0.42% decrease. The drop in copper prices was overshadowed by a sharper decline in mining shares, as investors perceived these companies as riskier than the metal itself. Southern Copper, one of the largest copper producers with operations in Peru and Mexico, dropped 3.75% to US$187.59, while Freeport-McMoRan, the U.S. mining giant with major South American operations, fell 3.45% to US$66.83.
A softer-than-expected U.S. wholesale inflation report did little to boost copper prices. The market's focus remained on gold, with forecasts predicting significantly higher prices. For Latin America, the decline in producer shares highlights how copper income can move faster than the commodity price itself. The significant gap between the minor dip in copper and the sharp fall in the big miners indicates that investors are demanding a larger safety margin on producer shares.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
