Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Freeport McMoran is shutting down its copper rod mill in Norwich, Connecticut, the company said last week. 


The decision was taken to increase the operational efficiencies of its two other mills, Freeport’s spokesperson told Davis Index, adding that the mills in Miami, Arizona and El Paso, Texas will keep operating.


The two mills will continue to produce copper wires and rods for the North American market, the spokesperson added.


The news comes on the heels of Freeport’s announcement to shut down its Bayway Specialty Copper Products in New Jersey last month. The company cited the economic uncertainties arising from COVID-19 for its decision to close the plant. Freeport is currently in the process of phasing out production and liquidating inventory at this plant, the spokesperson told Davis Index.


In April, Freeport had lowered its guidance for copper production by 11pc to 3.1bn lb (1.4mn mt) from its previous outlook of 3.5bn lb. The company had also suspended its plans, announced in early 2020, to inject $150mn in projects that would increase its output by 200mn lb.

Leave a Reply

Your email address will not be published.