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Base Metal Stocks Melt Lower

Published 06/22/2012, 01:14 AM
Updated 07/09/2023, 06:31 AM
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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.
FCX CHART

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