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Commodity News Details
Copper slumps as trade tensions hurt sentiments
18-Feb-2025 18:15
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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