Freeport-McMoRan Beats Third-Quarter Profit Estimates on Higher Copper Prices
Higher metal prices helped offset a production decline. Average copper prices rose 43% year over year in the quarter, amid supply concerns and signs of resilient demand from China.
Freeport-McMoRan NYSE:FCX beat Wall Street estimates for third-quarter profit on Tuesday, as higher metal prices helped offset a decline in production.Average copper prices in the quarter jumped 43% from a year earlier, driven by supply concerns and signs of resilient demand from top consumer China…