Headline: "Freeport-McMoRan Anticipates Surge in Copper Demand, Surpasses Q3 Forecasts"

Freeport-McMoRan (NYSE:FCX) stated that the demand for copper is expected to rise with the construction of more data centers, reporting better-than-expected quarterly earnings as the high copper prices offset a decline in production. Average copper prices increased in the third quarter, driven by signs of rising demand in China, decreasing inventories, and the country's comprehensive stimulus measures aimed at revitalizing its weakening economy. Freeport's quarterly average realized price for copper rose by 13.2% to $4.30 per pound, while the metal's production fell by 3.1% to 1.05 billion recoverable pounds this quarter. The company noted strong demand for energy cables and building wires associated with U.S. electric infrastructure and data centers. CEO Kathleen Quirk remarked post-earnings, "Both growing sectors more than offset the weakness in traditional demand sectors." Last week, Freeport halted copper cathode production at its Manyar smelter in Indonesia following a fire in the sulfuric acid unit at the East Java facility, which was later extinguished. On an adjusted basis, Freeport earned 38 cents per share in the third quarter, surpassing the average analyst estimate of 35 cents per share, according to data compiled by LSEG. The company's shares rose by 1.1% to $48.45.