Shares of copper companies are trading lower amid reports of an increase in China inventories.
Portfolio Pulse from Benzinga Newsdesk
Shares of copper companies are trading lower amid reports of an increase in China inventories.
May 22, 2024 | 2:39 pm
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NEGATIVE IMPACT
BHP shares are trading lower due to increased copper inventories in China, which could lead to lower demand and prices for copper.
Increased inventories in China suggest a potential oversupply, which could reduce demand and prices for copper, negatively impacting BHP's revenue from copper sales.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Freeport-McMoRan (FCX) shares are trading lower due to increased copper inventories in China, which could lead to lower demand and prices for copper.
Increased inventories in China suggest a potential oversupply, which could reduce demand and prices for copper, negatively impacting Freeport-McMoRan's revenue from copper sales.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Southern Copper Corporation (SCCO) shares are trading lower due to increased copper inventories in China, which could lead to lower demand and prices for copper.
Increased inventories in China suggest a potential oversupply, which could reduce demand and prices for copper, negatively impacting Southern Copper Corporation's revenue from copper sales.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80