Friday morning, all of the leading base metal stocks declined lower to start the day. Freeport McMoRan Copper & Gold Inc (NYSE:FCX) is considered to be one of the leading base and industrial metal stocks in the world. Today, FCX stock is declining lower by 0.91 cents to $34.36 a share. Short-term traders can watch for intra-day support around the $34.15 and $33.85 levels.
Some other leading base and industrial metal stocks that are declining lower today include Rio Tinto plc (NYSE:RIO), BHP Billiton Ltd (NYSE:BHP), and Cliffs Natural Resources Inc (NYSE:CLF). Please understand all of these stocks in the sector will usually trade lower when the Chinese market is weak. These stocks will also trade inverse to the U.S. Dollar Index.