COMEX Copper futures edged up in early Asian trades on Thursday although largely the red metal stays around a one-week low. The counter is currently quoting at $4.56 per pound, up 0.21% on the day. 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. Meanwhile, in equities, major averages on Wall Street climbed well off their early lows and into positive territory, with the S&P 500 once again reaching a new record closing high, supporting the commodity. The major averages ended the day modestly higher. The S&P 500 rose 14.57 points or 0.2 percent to 6,144.15, the Dow climbed 71.25 points or 0.2 percent to 44,627.59 and the Nasdaq inched up 14.99 points or 0.1 percent to 20,056.25.

Powered by Commodity Insights