Copper and the proxies

Last week, I showed a study overlaying the price of Copper against the stock price of Freeport McMoran.

https://robzdravevski.com/2026/10/14/operational-leverage-in-copper/

My current read on the price of Copper is for it to trade lower.

That should translate into the stock price of Freeport McMoran declining from its current level of $68.87 to around $43.50.

And I’d expect commensurate price action in other copper equity proxies.

October 21, 2026