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 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. Electric vehicles tend to use much more copper wiring than internal combustion engine vehicles and renewable energy requires large amounts of transmission and distribution spending.
