Ticker

Freeport-McMoRan expects demand for copper for use in electrification, data centers and other ​high-tech areas to remain resilient despite market jitters tied to the Iran conflict, CEO Kathleen Quirk told Reuters ‌on Monday.

With no ceasefire in sight, the bank sees copper prices falling to $4.20 a pound and warns that the 'buy the dip' trade is close to exhaustion. A war with no end is forcing one of the City's biggest research teams to tear up its commodity outlook.

Both precious and industrial metals fell in Thursday trading as investors are starting to worry this oil shock will go on long enough to cause an economic slowdown or recession. An unusual stagflation scenario is occurring with rates rising on inflation fears, while economic growth expectations are being lowered.

Mining company shares were under pressure on Wednesday afternoon as precious and industrial metals prices fell, seemingly in connection with the conflict in the Middle East.  On the FTSE 100, precious metals miners Fresnillo PLC (LSE:FRES) and Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF, FRA:6E2) dropped 4.9% and 3.3%, copper specialist Antofagasta PLC (LSE:ANTO) declined 3.3%, while Anglo American PLC…

New Frontier Minerals Ltd (LSE:NFM, ASX:NFM, FRA:7OR0, OTCQB:NFMXF) shares rose 5% to 0.5p after the company said its Mining Lease Application for the Big One copper deposit in Queensland had cleared initial regulatory review and received technical assessment approval from the Queensland Natural Resources and Mines Department. The milestone moves the project closer to potential near-term production.