- Freeport McMoRan (NYSE:FCX) finished as today's top gainer on the S&P 500, rising 5.7% amid surging prices of industrial metals; zinc prices jumped to their highest in a decade while aluminum and copper rose to their highest level since 2014.
- Benchmark copper finished 2.4% higher at $6,532 having touched $6,576.50, the highest since November 2014, supported by strong global demand and tight supplies.
- In other news, local residents in a remote Andean region in Peru reportedly have blocked trucks transporting copper concentrates from the Las Bambas mine.
- Raymond James analysts initiate FCX shares at Market Perform, given uncertainty around the timing of permits needed to ship concentrates from the Grasberg mine.