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.
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