The Globe and Mail reports in its Tuesday edition that North American copper miners are expected to post a decline in first-quarter earnings this week owing to lower metal prices and higher costs. A Reuters dispatch to The Globe says that Freeport-McMoRan and Teck are expected to post a combined adjusted net income of $666.3-million (U.S.), according to LSEG estimates, compared with $1.43-billion (U.S.) in the year-ago quarter. Copper prices touched a multiyear high last month after major Chinese copper smelters agreed to limit capacity expansion. Despite the late rally, average benchmark copper prices were down 5 per cent during the quarter compared with last year, weighed by concerns over demand in top-consumer China and fears of elevated interest rates. "I would expect first-quarter cash flow to be low because, again, the copper price had not yet really risen," said Chris LaFemina at Jefferies. Teck's quarterly earnings may see a hit from inclement weather in British Columbia, while Freeport's continuing tussle with the Indonesian government over export permits could add to its costs. More than half the analysts who cover Freeport and Teck have lowered their earnings estimates for both miners in the past 30 days.