🔴 Freeport-McMoran is trading 4.37% down in pre-market as copper’s tariff-linked premium unwinds

Freeport-McMoran is trading 4.37% down at $67.96 as copper sharply reverses from record highs after reports that the White House’s refined-copper tariff plan stalled.

• The tariff-linked copper premium unwound, pressuring major U.S. copper producers.
• The move is primarily sector-driven, while broader risk-off sentiment also weighs on equities.
• Freeport-McMoran’s September 14 announcement targeting 60% U.S. copper growth is positive but does not explain the pre-market decline.