Chart of Day: Freeport-McMoRan (FCX) -2/5

With the green energy boom, keep an eye on copper, and related stocks like Freeport-McMoRan (FCX). That’s because copper plays a critical role in wind, solar, and even with electric vehicle charging infrastructure.


In fact, according to S&P Global, “Copper — the ‘metal of electrification’ — is essential to all energy transition plans. Deeper electrification requires wires, and wires are primarily made from copper. Technologies critical to the energy transition such as electric vehicles (EVs), charging infrastructure, solar photovoltaics (PV), wind, and batteries all require much more copper than conventional fossil-based counterparts.”

In addition, copper is seeing a supply-demand issue that could send prices higher.

This is all thanks to mining supply disruptions and higher demand.  “Rising demand driven by the green energy transition and a likely decline in the U.S. dollar in the second half of 2024 will push copper prices higher,” added BMI, a Fitch Solutions research unit.

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