Freeport McMoran Copper and Gold has certainly felt the impact of an uncertain housing market. Copper is a key component for used for wiring and new plumbing in new construction. This has affected the copper producers, including Freeport McMoran Copper and Gold.
In a CNBC exclusive with Maria Bartiromo sat down with President and CEO Richard Adkerson to discuss the global economy and the future of the commodities space.
Adkerson admits that U.S. demand has been weaker than people had expected, but commodities are priced based on global supply and demand. And globally, things are looking pretty good. China has been investing heavily in the nation’s infrastructure, Adkerson said “China is strong and we have confidence it will stay that way.”