Cost ChallengesFCX expects a 5% higher cost of goods in the U.S. due to supplier pass-through of tariffs.
Geopolitical And Operational IssuesOngoing issues in Indonesia, rising capex, and geopolitical issues are likely factors for the decoupling between FCX and the copper price.
Market VolatilityCopper markets are tricky with prices distorted by US stockpiling ahead of Section 232, leading to expected post-Section 232 weakness.