Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi MM, I just read your commentary on the FCX guidance downgrade. What are your views on its effects on already tightening copper supply/an already tightening copper market? Meaningful or not really? In your view, should this improve sentiment for other copper stocks? I'm not seeing that so far on the ASX today in relation to the few copper stocks that I have looked at. Thanks, Darren
Hi Darren,
A good question, less output from Freeport should be supportive of copper prices hence being supportive of its peers – on Friday morning, with the ASX down 0.4% the main copper stocks on the ASX, Sandfire Resources (ASX:SFR) and Capstone Copper (TSX:CSC) were trading mixed, up +0.2%, and down -1.4% respectively.
Overall, we feel it’s a marginal tailwind for the copper market, but compared to the health of the global economy, post the Iran conflict, it’s unlikely to impact the sector by much.
Take a free trial.
No payment details required.
Forgot password? Request a One Time Password or reset your password
One Time Password
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
A link to create a new password will be sent to the email address you have registered to your account.
Hi, this is only available to members. Join today and access the latest views on the latest developments from a professional money manager.
Our Smart Phone App will give you access to much of our content and notifications. Download for free today.
