Shares of BHP Group (ASX:BHP) rose around 3% in Tuesday trading and earlier hit a record high after copper prices closed at an all-time peak, lifting the miner's market value to AU$305 billion, as investors shrugged off geopolitical concerns related to the Iran conflict and the Strait of Hormuz.
Copper rose 2.7% to settle at $13,943 per tonne on the London Metal Exchange, marking a record high close and surpassing its previous peak of $13,618.
Alcoa (ASX:AAI) will invest $65 million to expand foundry production capabilities to include recycled content in the casting process at its Mosjøen aluminum smelter in Norway, according to a Tuesday statement from the company.The investment will expand and upgrade the Mosjøen casthouse, increasing production capacity by up to 75,000 metric tons.The project is expected to be completed in phases, with commissioning and ramp-up scheduled to progress throughout 2028, the company said.Alcoa's shares climbed 4% in recent trading on Tuesday.
Danaos (DAC) reported Q1 adjusted earnings late Monday of $6.72 per diluted share, up from $6.04 a year earlier.One analyst polled by FactSet expected $6.60.Revenue in the three months ended March 31 rose to $253.7 million from $253.3 million a year earlier.Two analysts surveyed by FactSet expected $236.5 million.The company kept its quarterly dividend at $0.90 a share, payable June 4 to stockholders of record May 26.Danaos shares rose 1% in after-hours trading.
FutureFuel (FF) reported a Q1 loss late Monday of $0.47 per diluted share, widening from the loss of $0.41 a year earlier.Revenue in the three months ended March 31 rose to $32 million from $17.5 million a year earlier.FutureFuel shares fell 3.1% in after-hours trading.