Yesterday morning, all of the leading base metal stocks erased their early gains made at the open. Freeport McMoRan Copper & Gold Inc (NYSE:FCX) is the largest copper producer in the world. Yesterday, this leading stock was trading lower by 0.48 cents to $34.04 a share in the morning. It is important to note that FCX stock traded as high as $34.90 a share at the start of the day. It closed at $33.09.
Some other leading base and industrial metal stocks that declined lower yesterday during the market session include Southern Copper Corp (NYSE:SCCO), Rio Tinto plc (NYSE:RIO), and BHP Billiton Ltd (NYSE:BHP). All of these stocks continue to remain weak on the daily charts. Traders should remember that these stocks will usually trade inverse to the U.S. Dollar Index.