RE:FCX Freeport-McMoran the biggest Copper Co
I'm watching the little CU pop today as well. Would not be a stretch to think we might see CU settle into a range closer to and over $4 and gold in the $2050-$2100 area. Friedland was saying it will take more than that to light a fire under the supply side. We know supply is constrained, so the question is, where is demand going? The market indicator of concentrate charges by Chinese smelters says supply is tightening faster than demand is slacking, at least short term. Then contrary ... a bit of gloom about China and Europe slowing.
If you had to make a sleeper bet ... say 18 months out ... even if the global economy is sluggish there is quite a tilt into CU from fiscal stimulus green energy subsidies, EV subsidies ... and hate to note that the Russians and Ukrainians must be going through more than their fair share in their hideous struggle.
So path of least resistance for copper, yeah it looks more likely to be up, which will show up in the big miners beating guidance and the pull some money into the juniors if that's how it goes. No rush but position yourself with leverage to CU might not be a bad idea at this time?
BTW - Name Change for BIG to Hercules Resources or Metals might be in order ...
cg