In a nutshell: . BHP GROUP (=): FQ2 FY25 production - Copper improving despite weather impacts in South Australia . TECK RESOURCES (NR): Q4 production ahead, updated multi-year guidance . STEEL EU: Largest political party in Europe proposed to freeze CBAM for at least 2 years Daily Prices as of January 20th / PRICE MOVERS . MACRO/COMMODITY WRAP: Base metals futures rallying on the SHFE this morning on relief that Trump hasn''t imposed tariffs immediately; aluminium unch, zinc +0.2%, copper +0.3%, nickel +1.5%. Iron ore futures rallied for a ninth straight session as for similar tariff reasons. The most traded contract on the Dalian Exchange gained +0.8%. Shares of County Garden (NR), once one of China''s biggest property developers, boosted sentiment as it increased as much as 11% following a nine-month suspension. Gold (2,723/oz) up for a second straight day on a weaker dollar as reports suggested any new US tariffs would be imposed in a ''measured'' way. . Macro data this week: A relatively light week upcoming on the macro calendar - US initial jobless claims (previous 217k) and Eurozone consumer confidence (previous -14.5) on Thursday, Eurozone manufacturing PMI (previous 45.1), US manufacturing PMI (previous 49.4) and US existing homes sales (consensus +0.5% m/m) on Friday. . STEEL EU - Largest political party in Europe proposed to freeze CBAM for at least 2 years: The European People''s Party (EPP), the largest party in the European Parliament, proposed that the EU should put CBAM on hold for at least two years and gradually revise sustainability legislations. In a joint paper released last weekend, EPP suggested the EC should limit the scope of CBAM to large companies with more than 1,000 employees to eliminate the indirect effect to SMEs. ''The EU has decided on ambitious climate targets and policies to achieve them. When implementing them, we must make sure that they do not lead to deindustrialization,'' said EPP. Also, the EPP stressed the...