Since one of Freeport-McMoRan Copper & Gold resource is Copper, I thought I would tell you more about it!
Copper is an internationally traded commodity, and its price is effectively determined by the major metals exchanges - the London Metal Exchange (LME), the New York Commodity Exchange (COMEX) and the Shanghai Futures Exchange (SHFE). Prices on these exchanges generally reflect the worldwide balance of copper supply and demand. They also can influence investment flows and currency exchange rates.
The physical attributes of Copper include superior electrical conductivity, corrosion resistance, structural capability, efficient heat transfer and aesthetics. Some of the other materials that compete with copper include aluminum, plastics, stainless steel and fiber optics. Copper is difficult to duplicate due to its unique characteristics.
Copper tends to follow economic cycles. Demand for copper tends to increase during an expansion, driving up the price. Copper prices are volatile and cyclical.
Freeport-McMoRan is the world's leading producers of copper concentrate, cathode and continuous cast copper rod.
Copper concentrate is a dry powder that is used as a feedstock for smelters. We supply to our own smelters and to third party smelters. Copper cathode is used as the raw material input for continuous cast copper rod and for brass mill products. Copper rod is used as feedstock to produce electrical wire, cable and other products. Freeport-McMoRan is the largest manufacturer of continous-cast copper rod in the world!
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