Wednesday, December 8, 2010

Freeport (NYSE:FCX), BHP (NYSE:BHP), Rio (NYSE:RIO) Up on Commodities Strength

Diversified major miners like Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), BHP Billiton (NYSE:BHP) and Rio Tinto (NYSE:RIO) all ended Tuesday's session positive, as the broader commodity market, including copper, was able to overcome the relatively soft price of gold, which plunged on the day.

A number of commodities, including copper, are going to struggle to meet demand in 2011, and that bodes well for the commodity market, even if some of the individual commodities aren't in the same place.

Overall, it appears commodities are segmenting, and investors will have to pay closer attention to individual demand and weighing, rather than considering them as a whole, which has been working during the bull market.

Freeport closed Tuesday at $110.63, up $0.73, or 0.66 percent. BHP closed at $88.85, up $0.12, or 0.14. Rio reached $71.02, increasing $0.71, or 1.01 percent.

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