Freeport-McMoRan's Trading Volume Plummets 40.95% to 620M Ranking 209th Amid Tariff-Driven Copper Plunge

Freeport-McMoRan Inc. (FCX) closed August 1 at $40.03, down 0.52% as trading volume dropped 40.95% to $0.62 billion, ranking 209th in market activity. The decline followed U.S. copper prices plummeting nearly 20% after President Trump announced 50% tariffs on semi-finished copper products and copper-intensive goods, excluding refined copper. This policy shift disrupted arbitrage opportunities and triggered a selloff in mining equities. Freeport-McMoRan’s shares fell for a third consecutive day amid heightened market volatility.

The tariffs, effective August 1, targeted pipes, wires, sheets, and other derivatives rather than raw materials, catching traders off guard. This move exacerbated copper’s price collapse, with U.S. futures hitting multi-year lows. Analysts noted the policy’s focus on protecting domestic manufacturing while weakening demand for refined copper, directly impacting Freeport-McMoRan’s revenue streams. Despite reporting a 7.5% stock price gain in Q2 and $772 million in net income, the tariff-related uncertainty overshadowed short-term gains.

Investor sentiment remained cautious as copper prices continued to slide. The company’s strategic share repurchase program—1.5 million shares bought in Q2—failed to offset broader market concerns. Analysts highlighted the sector’s vulnerability to geopolitical trade policies, with Freeport-McMoRan’s exposure to copper-intensive markets amplifying its sensitivity to regulatory shifts. The stock’s performance underscored the challenges of balancing operational strength with macroeconomic headwinds.

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