Copper, meanwhile, is down more than 2 percent this year but has pared losses recently. Trader Tim Seymour believes the metal's price can go higher, boosting Freeport-McMoRan and Southern Copper.
"These are names that to me are underowned," he said.
Freeport shares rose 6 percent Monday after an upgrade from analysts at Cowen & Co.
Karen is long BAC, C, DRII, DRII calls, FB, FL, GOOG, GOOGL, JPM, LYV, KORS, KORS long call spreads, M, MA, SEDG, SPY puts, URI. Her firm is long ANTM, AAPL, BAC, C, C calls, DRII, DRII calls, FB, GOOG, GOOGL, JPM, JPM calls, KORS, LYV, M, MOH, PLCE, SPY puts, URI, her firm is short IWM, MDY. Karen Finerman is on the board of GrafTech International.
Steve is long BA, CC, DD, DIS, EVGN, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX Steve's kids own EFA, EFG, EWJ, IJR, SPY
Long AAPL, BAC, BMY, CSCO, DIS, DISCA, GE, GS, KMI, KMI.A, KO, LUX, MRK, PEP, PFE, SAVE, TMUS, VIAB, ZIOP Long Calls: AAL, AGN, AKS, AMJ, COP, EGO, EWZ, HAL, HAIN, HBAN, JD, KATE, KBH, KMI, LC, LLY, MSFT, MT, NLNK, SLV, SVU, TCK, TEX, UAL, YHOO Long Puts: FCX, NOV, PBR, VLO
Tim Seymour is long AAPL, AVP, BAC, BBRY, CLF, DO, EDC, EWZ, F, FCX, FXI, GM, GOOGL, GRMN, GE, GLNCY, INTC, LQD, MCD, MPEL, NKE, RACE, RAI, RL, SINA, T, TWTR, UA, VALE, VZ, XOM. Tim's firm is long BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO, short HYG, IWM, WYNN