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Expect The World’s Largest Copper Producer to Keep Rising

May 23rd, 2008 | By Brian Hunt | Category: Gold Market

Mining investors take note… If copper, zinc, nickel, and tin prices remain close to current levels, these miners will make a ton of money this year.

That’s how we signed off our March 4 column. Back then, big base-metal miners, including Lundin Mining, Southern Copper, and Freeport-McMoRan were in one of their worst slumps in recent memory. Investors couldn’t stand the thought of owning their shares. Copper prices are highly dependent on global economic health… and that health was in question.

But as we’ve covered with Home Depot and the Dow Transports, the market is now answering the global economic question with, “You know… things don’t look so bad.”

In addition to the strength in the Depot and the Transports, the price of copper refuses to decline from all-time highs near $4 per pound. These are all signs of economic strength. If this strength continues, expect the prediction above to come true… and expect Freeport-McMoRan (the world’s largest public copper producer) to keep rising.

Freeport McMoran Copper & Gold

Source: Expect The World’s Largest Copper Producer to Keep Rising


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More on this topic (What's this?)
Is there a bubble forming in copper?
What Does Dr. Copper Think About the US Economy?
Read more on Copper Prices at Wikinvest
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By Brian Hunt

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Brian Hunt is managing editor of Daily Wealth.

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The DailyWealth mission is to show you how to avoid risky investment, and how to avoid what the average investor is doing. We believe that you can make a lot of money and do it safely by simply doing the opposite of what is most popular.

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