Freeport-McMoRan Announces Quarterly Dividend; Cash Price of Copper Drops

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Freeport-McMoRan Copper & Gold Inc. has “declared a quarterly dividend of 31.25 cents per share, payable Feb. 3 to holders of record as of Jan. 15. Freeport-McMoRan is the world’s largest publicly traded copper company with assets that include, but are not limited to, Grasberg in Indonesia, Cerro Verde, and El Abra. Freeport-McMoRan is a diversified miner,” reports Kitco.

In metal price news for copper…

With a decline of 0.8 percent on the LME to $7,228 per metric ton on Thursday, December 19, the cash price of primary copper recorded the biggest decline of the day. The copper 3-month price saw a 0.6 percent decline on the LME to $7,227 per metric ton.

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The Japanese copper cash price weakened by 0.3 percent. The price of US copper producer grade 122 saw little price change yesterday. The price of US copper producer grade 102 held steady yesterday. The price of US copper producer grade 110 saw little change in its price yesterday.

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Chinese copper closed mixed yesterday. Chinese copper bar fell 0.2 percent yesterday. The cash price of Chinese copper declined 0.2 percent. The price of Chinese copper wire saw essentially no change for the fifth day in a row. The price of Chinese bright copper scrap saw little movement.