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BHP says iron ore prices are unlikely to fall below $US80 ($125) a tonne in an environment of softening Chinese demand, as it reported a 37 per cent slump in underlying profit to $US13.4 billion.
The decline was driven by weaker prices for iron ore, copper and coking coal, plus a rare decline in sales volumes of BHP’s flagship product, West Australian iron ore.
BHP Price at posting:
$43.27 Sentiment: Buy Disclosure: Held
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