Declining prices mean that almost 1/3 of copper production by Phoenix-based Freeport McMoRan Copper & Gold is unprofitable at current prices, according to an analysis by Bloomberg.com. If prices stay below $1.50 per pound (they're at $1.28 today), Freeport may institute a third round of cuts to production with resulting layoffs and even closures. [right, credit Freeport McMoRan C&G]
No comments:
Post a Comment