Asia-Pacific equities and U.S. stock futures were mixed on Tuesday. Japan’s Nikkei 225 ended 0.3% lower after the government revised its annualized Q2 GDP growth rate to 1.4% while business investment still contracted. South Korea’s Kospi rose 1% on continued buying of chipmakers, with Samsung Electronics up 2.9% and SK Hynix gaining 5.3%. Hong Kong’s Hang Seng slipped 0.4% while the Shanghai Composite edged up 0.1%, and U.S. markets were closed on Monday for the Labor Day holiday.

Benchmark three-month copper on the London Metal Exchange climbed to a record $14,533 a ton, taking its 2026 gain to 16%. About 51% of LME warrants have been canceled, suggesting more than 121,000 tonnes of copper could leave the exchange’s warehouse system as supply tightens. A softer dollar and fund buying have also supported prices.

Copper on the London Metal Exchange hit a record $14,533 per metric ton, topping the prior peak of $14,527.50 set in January. Major producing countries have cut full-year output forecasts for a second straight quarter and now expect production to fall 2.6%. The International Copper Study Group sees global mine supply rising only 1.6% this year, while mining capital spending is down more than 40% from peak levels, limiting new projects. A weaker dollar and structural demand from electrification, AI and data centres have also supported prices.

Copper prices hit a record high on supply concerns and a softer U.S. dollar, with the benchmark LME contract touching $14,533 per tonne, above the prior peak of $14,527.50. Against that backdrop, Hindustan Copper shares rose more than 4% on Tuesday, taking the stock’s gains over the past year to more than 115%. In India, MCX copper futures also neared lifetime highs.

Chicago wheat futures surged after limited progress in U.S. diplomatic efforts to ease conflict in the Black Sea reignited concerns over Ukrainian and Russian grain export prospects. The most-traded wheat contract jumped 3% to $7.56-1/2 a bushel. Corn rose 0.7% to $5.40-1/4 a bushel, while soybeans edged up 0.2% to $13.12 a bushel.

Indian shares are expected to open little changed on Tuesday after sliding to six-week lows, with sentiment subdued as Middle East conflict risks push Brent crude toward $97 a barrel. India, which imports about 85% of its crude needs, is seen as particularly exposed to higher oil prices that can stoke inflation worries. Foreign investors were net buyers of Indian shares worth 2.8 billion rupees on Monday, snapping a three-session selling streak.

Copper on the London Metal Exchange climbed to a record intraday high of $14,533 a ton amid turbulence around tariff policy and disruptions at mines. Prices are up 17% this year and 47% over the past 12 months, supported by a persistent long-term supply-demand imbalance. Treatment charges have fallen into negative territory, and without a second-half production recovery global mined supply is set for its first annual decline since 2017, while several major miners’ copper profits have surged.

More than 100 South Korean companies, including Hyundai Motor and LG Chem, have issued preferred shares that trade at an average 45% discount to common stock. After Samsung Electronics unveiled a shareholder-return plan of up to 110 trillion won last month, the price gap between its preferred and common shares narrowed briefly but still stands at 26%, the widest in a decade. Hyundai’s common shares trade at a premium of more than 50% over its preferreds, underscoring the long-running discount attached to preferred shares in Korea.