Live market coverage co-anchored from Hong Kong and New York. Overnight on Wall Street is daytime in Asia. Markets never sleep, and neither does Bloomberg.

STORY: Glencore reportedly approached Rio Tinto late last year about combining the two big copper producers.But a source told Reuters that the discussions are no longer active.Rio is the world's No. 2 miner.

Rio Tinto, and Glencore Plc have been discussing combining their businesses, Bloomberg News reported on Thursday, citing people familiar with the matter. Both the firms, which are among the world's largest iron ore miners,