Base Metal Stocks On The Rise
This morning, the leading base and industrial metal stocks are all moving higher at the start of the trading session. This important industry group has now rallied since April 18, 2013. One of the leading stocks in the sector is Freeport-McMoRan Copper & Gold Inc (NYSE:FCX). This company is one of the leading copper producers in the world. Today, FCX stock is trading higher by 0.72 cents to $32.27 a share. Short term traders should watch for intra-day resistance around the $32.30, and $33.00 levels. The daily chart will also have good resistance around the $30.00 area.
Some of the other leading base metal and industrial metal stocks that are trading higher today include
Rio Tinto plc (ADR) (NYSE:RIO), BHP Billiton Limited (ADR) (NYSE:BHP), Vale SA (ADR) (NYSE:VALE), and Teck Resources Ltd (USA) (NYSE:TCK). All of these stocks will usually trade higher when there is bullish news on the Chinese economy. Last night, the Chinese reported stronger that expected import and export data. This news is certainly helping the base and industrial metal stocks today.