no one can predict commodity prices accurately. However you can make an assumption that trillions in printed central bank cash will result in inflation, which is at decades highs. Historical data shows commodities rise with inflation, and usually more than official inflation figures.
This trade started in late December among fundies hence the spike off the lows, coupled with them finally realising China’s demand is still there. The herd dumped, now buys again.
Trillions more in MMT to come on energy transition, steel, copper and nickel. Tick, BHP.
end cycle price target $8 to $12, page-205
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Last
$44.98 |
Change
0.335(0.75%) |
Mkt cap ! $228.1B | |||
| Open | High | Low | Value | Volume |
| $45.05 | $45.10 | $44.78 | $78.51M | 1.746M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 1404 | $44.96 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $44.98 | 2493 | 9 |
View Market Depth
| Last trade - 11.14am 02/10/2024 (20 minute delay) ? |
| BHP (ASX) Chart |