What happened Shares in copper miner Freeport-McMoRan (NYSE: FCX) rose 26% in February according to data from S&P Global Market Intelligence. The move is the result of two related factors. First, the price of copper rose through the month from around $3.56 per pound to around $4.10 per pound. Although it's only a one-month movement, it continues a remarkable recovery from a low of around $2.20 in March 2020. The rise in copper prices is a function of the improvement in the global economy, with the metal seen as being one of the most economically sensitive commodities. Image source: Getty Images. Besides, investors have been warming to the investment case for copper as a backdoor way to play growth in electric vehicles (EV) and renewable energy. Electric vehicles tend to use much more copper wiring than internal combustion engine vehicles and renewable energy requires large amounts of transmission and distribution spending. Second, gold and copper miner Barrick Gold (NYSE: GOLD) backed off from its reported interest in buying Freeport-McMoRan during February. That's good news for investors who want to invest in copper because if Freeport-McMoRan were taken over by Barrick Gold it would mean the addition of gold into the investment proposition. So what As long as supply/demand conditions are favorable, copper prices are likely to rise and that's good news for copper miners. Moreover, more investment in EVs and renewable energy will only add to the chorus of approval from Freeport-McMoRan bulls. Meanwhile, the fact that Freeport-McMoRan is still independent means investors can keep holding and buying a focus on copper rather than switch to other options like Southern Copper or Antofagasta. That said, history suggests copper miners will respond to price rises by investing in expanding capacity, increasing supply, meaning that some downward pressure will appear on pricing. Now what Investors should keep an eye on the global economy and its impact on commodities prices like copper. Meanwhile, the continued adoption of EVs and renewable energy projects is a net positive for copper demand. It's all adding up to a favorable environment for copper miners right now. 10 stocks we like better than Freeport-McMoRan IncWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Freeport-McMoRan Inc wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source