Freeport sees rising copper demand boosting 2021 results

(Reuters) - Freeport McMoRan Inc posted a quarterly profit on Tuesday that narrowly beat analysts’ estimates on rising production and prices for copper and gold, with executives forecasting continued growth for 2021.

Copper sales and prices have jumped in recent months as parts of the world - China especially - began to recover from the coronavirus pandemic. Copper demand is closely linked to economic health.

At the same time, unprecedented stimulus measures and low interest rates to cushion economies from the impact of the pandemic have benefited prices for gold, which is seen as a hedge against inflation.