The company cut its full-year copper production outlook in response to continued disruptions in its cash-cow, the Grasberg mine.

FORBES: Freeport McMoran Beats Despite Plummeting Copper And Grasberg Strike

Managed-money accounts continued to raise their net-short position in copper.

FORBES: FOCUS: Falling Prices Push Speculators To Cut Bullish Metals Positions -CFTC

Managed-money accounts continued to lower their net-short position in copper.

FORBES: FOCUS: Short Covering, New Buying By Speculators Seen In Gold -CFTC