On July 21, Freeport-McMoRan rose 4.03% in regular trading, trading at $60.88/share, with turnover of $115 million. The copper sector broadly strengthened, with Ero Copper up 5.47%, TREKOR METALS up 5.34%, and Southern Copper up 3.16%.

On the news front, Chile was hit by the highest-rated Category 5 atmospheric river storm, expected to impact the central copper mining region with up to 150mm of rainfall, threatening an already tight copper supply situation. Chile's May copper output had previously declined 12.94% year-over-year to 424,000 tonnes, with Codelco down 18.3% and BHP's Escondida mine down 17.6%. Additionally, Glencore's KCC copper-cobalt mine in the DRC has halted production, affecting approximately 1% of global copper supply.

Meanwhile, Freeport-McMoRan is scheduled to report Q2 earnings pre-market on July 23, with market consensus expecting adjusted EPS of $0.59, representing approximately 30% year-over-year growth. Institutions are broadly bullish ahead of the release.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)