FCX Stock Plunges 7.21% as Copper Prices Reversal Sparks Profit-Taking

Freeport-McMoRan Inc's stock (FCX) plummeted by 7.21% on September 10 due to a sharp reversal in copper benchmark prices.

The sudden drop in spot copper triggered immediate profit-taking across the metals and mining sector, directly affecting near-term revenue and cash flow expectations for Freeport-McMoRan as one of the world's premier primary copper producers.

Global copper futures tumbled after reports that the U.S. administration postponed its decision on potential import tariffs on refined copper, prompting concerns over elevated domestic manufacturing costs.