US-listed miners and materials companies tracked by copper, gold and aluminium signals. Freeport is the world's largest publicly traded copper miner. Newmont is the world's largest gold miner.
LME copper at $12138/t is historically elevated — well above the Signycle sell threshold of $11,000/t. Freeport-McMoRan, which mines approximately 4% of the world's copper, is pricing in continued copper strength. A correction toward $8,000-9,000/t would create a significantly better entry point.
Gold at $4743/oz is at all-time highs driven by central bank buying, geopolitical uncertainty (Hormuz crisis) and dollar weakness. Newmont and Barrick are both in sell zone. Gold miners typically trade at 2-3x their net asset value at cycle peaks — historically the time to reduce exposure.
Alcoa is tracking LME aluminium at $3,478/t — elevated but not in the Signycle sell zone. Aluminium benefits from energy transition demand (EVs, solar panels) which provides a structural demand floor. More neutral than copper or gold at current levels.
For informational purposes only. Not financial advice. See disclaimer.