Hmm, in terms of valuation impact I would suspect Copper to have more of an impact now than Iron Ore.
At the half yearly it is true that revenue from Copper was 61% of that of Iron Ore BUT I would suspect that BHP's future cash flows would project Copper eventually exceeding Iron Ore and therefore Copper maybe more of a driver of future discounted cash flow valuations than Iron Ore... so it maybe more than just a bell weather consideration.
It's kind of crappy that Goldman's research for BHP isn't available via CommSec to see this. Does anyone else have access to research with such projections?
BHP Price at posting:
$43.07 Sentiment: Sell Disclosure: Held
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