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Base Metal Miners’ Equities Rose

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Base metal miners gained

The equities of all of the major base metal mining companies rose on Tuesday. Base metals rose on December 29. The same sentiment was seen in the price action of base metal miners.

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Freeport fell by 14.8% in December

After gaining for the five consecutive trading days and ending the week with a gain of 22%, Freeport-McMoRan (FCX) started this week on a negative note. However, it recovered on Tuesday. Freeport is one of the largest copper producers in the world. It rose by 1.8% on Tuesday. It ended the day at $6.97.

Since the beginning of December, Freeport fell by 14.8%. It fell by 70% since the beginning of 2015. Last week, Glencore (GLNCY) gained in 75% of the trading sessions. It rose by 17.6%. After losing more than 2% on December 28, Glencore recovered on December 29. It ended the day with gains. Glencore rose by 0.9% on Tuesday. It ended the day at $2.71. Since the beginning of December, Glencore fell by 5.4%.

Alcoa closed above $10

Alcoa (AA) gained for two consecutive weeks. It ended last week with a gain of 9.6%. Alcoa fell on Monday—the first trading session of this week. It closed below the important price level $10. It recovered on Tuesday and closed above $10. Alcoa is one of the major aluminum producers. It rose by 1.5% and ended the day at $10.13.

After gaining for five consecutive sessions and BHP Billiton (BHP) ended last week with a gain of 9.2%. BHP started this week on a negative note but recovered on Tuesday, December 29. BHP Billiton is an Anglo-Australian mining company. It rose by 1.9% on December 29. It ended the day at $26.31. This is the highest day close for BHP since December 4.

The Power-Shares DB Base Metals Fund (DBB) rose by 2%. The SPDR S&P Metals & Mining ETF (XME) rose by 1% on December 29.

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