19-Feb-2025

Base Metals Preview: Copper extends loses near one-week low

COMEX Copper futures continued to linger around a one-week low on Wednesday 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 is down for the third session and currently trades at $4.56 per pound, down 0.60% on the day and near one week low. Meanwhile, in equities, US equities were choppy with the S&P 500 rose 14.95 points or 0.2 percent to 6,129.58, the Nasdaq inched up 14.49 points or 0.1 percent to 20,041.26 and the Dow crept up 10.26 points or less than a tenth of a percent to 44,556.34.

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