In the week ending January 9, all major base metal miners’ stock prices fell for most of the week and ended the week with a loss.
Freeport-McMoRan fell 20% last week
Freeport-McMoRan (FCX) fell 20% in the week ended January 9. It closed the week at $5.41. This is the lowest daily close for the company since the last quarter of 2015, a 13-year low. This is the second consecutive week in which Freeport-McMoRan closed with a loss. It started this week on a negative note by falling on Monday. It then fell four out of five trading sessions of the week.
Glencore (GLNCY) fell for the second consecutive week and closed the week ended on January 9 with a loss. Except for January 5, Glencore fell in all trading days. Glencore fell 14.7% last week and ended the week at $2.24. Glencore is trading close to the multiyear low price levels traded at the end of September 2015.
Alcoa and BHP fell for the second consecutive week
Alcoa (AA) fell for the second consecutive week and closed last week with a loss. In the week ending January 9, Alcoa fell 18.2% and ended the week at $8.07. Last week, Alcoa fell in all trading sessions and closed the week at the lowest daily close since November 13.
BHP Billiton (BHP) fell for the second consecutive week and closed the week with a loss. BHP fell 14.7% last week and closed the week at $21.96. This is the lowest daily close for BHP since January 2005, an 11-year low.