Freeport-McMoRan shares rise 5.64% intraday as geopolitical de-escalation eases supply chain fears, boosting industrial metals demand.

Freeport-McMoRan surged 5.64% intraday following a geopolitical de-escalation triggered by President Trump’s announcement of a five-day pause on Iran strikes, easing Middle East tensions. The move stabilized copper prices, which had fallen 8% monthly due to supply chain risks, and reduced overhangs on industrial metals demand. The stock’s rally aligned with broader relief in the mining sector, as investors priced out geopolitical risk premiums. A $7.5 billion El Abra copper mine expansion in Chile, announced separately, reinforced long-term growth expectations, but immediate intraday momentum was driven by the de-escalation event.