Freeport Sees Copper Demand Softening, Still Selling All its Products

Reuters reported that Freeport McMoRan Copper & Gold Inc. announced that the demand for copper has softened yet it is still selling all of the metal it produced.

As quoted in the market news:

“There has been some softening in copper demand, but not to the extent seen in the copper price. There is a disconnect right now and that’s because investors are concerned about the future. There are huge macroeconomic uncertainties and it’s driven by that,” Chief Executive Richard Adkerson said on the sidelines of the African Copper conference in London.

“We are still selling all the products we produce to customers, not to exchanges and very little to traders, and we anticipate that continuing,” he said.

Click here to read the full Reuters report