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Commodity Post Session News

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(18 Feb 2025, 18:15)

Copper slumps as trade tensions hurt sentiments

COMEX Copper futures tanked today as mining major BHP highlighted risks to global growth from potential trade tensions, as it logged its lowest first-half profit in six years. The world's largest listed miner on Tuesday reported an underlying attributable profit of $5.08 billion for the six months ending December 2024, down 23% from a year ago. Copper continued to come off its eight month top and fell for a second session. It currently trades at $4.58 per pound, down 1.61% on the day and neared one week low. Meanwhile, in equities, China’s Shanghai Composite index fell 0.93%, giving up early gains. Japanese Nikkei average added 0.25%. Hong Kong's Hang Seng index surged 1.59%. European stocks eased marginally today. The US markets remained closed on Monday, for Presidents' Day, honoring the birth anniversary of George Washington.
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