FBR Capital launches coverage of copper producers Freeport McMoRan (FCX), Teck Resources (TCK)...

|By:, SA News Editor

FBR Capital launches coverage of copper producers Freeport McMoRan (FCX), Teck Resources (TCK) and Southern Copper (SCCO) with a cautious near-term outlook, believing copper prices will remain under pressure due to choppy demand, inventory overhang and impending supply growth. Longer term, prices will remain supported above marginal cost and provide incentives for needed supply growth.