Aug 22 (Reuters) - BHP Group Ltd (BHP) : BHP'S ECONOMIC AND...

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    Aug 22 (Reuters) - BHP Group Ltd (BHP) :

    • BHP'S ECONOMIC AND COMMODITY OUTLOOK
    • WITH THE 2023 CY HALF OVER, UPDATED EXPECTATIONS FOR SHORT-TERM SUPPLY DEMAND BALANCES
    • ANTICIPATE BROADLY BALANCED IRON ORE MARKET ON AVERAGE ACROSS 2023 CY
    • NOW SEE A SMALL SURPLUS OR A BALANCED COPPER MARKET
    • LOOKING BEYOND IMMEDIATE PICTURE TO MEDIUM TERM, CONTINUE TO SEE NEED FOR ADDITIONAL SUPPLY
    • FORESEE A SOMEWHAT LARGER SURPLUS IN TOTAL NICKEL UNITS
    • ANTICIPATE GEOLOGICALLY HIGHER–COST PRODUCTION REQUIRED TO ENTER SUPPLY STACK IN PREFERRED GROWTH COMMODITIES AS DECADE PROCEEDS
    • BASIC ELEMENTS OF OUR POSITIVE LONG–TERM VIEW REMAIN IN PLACE
    • MOVING TO LONGER–TERM, VIEW REMAINS CHINA’S ECONOMIC GROWTH RATE WILL MODERATE AS WORKING AGE POPULATION FALLS
    • VERY UNLIKELY CHINA WILL STILL BE ACHIEVING ANNUAL GROWTH RATES AS HIGH AS +4.7% IN THE MIDDLE OF THE 2030S
    • TURNING TO LONG–TERM, FIRMLY BELIEVE THAT BY MID–CENTURY CHINA WILL INCREASE ITS ACCUMULATED STOCK OF STEEL IN USE
    • CONSIDER ENTRY OF NEW, HIGHER–GRADE SUPPLY FROM THE SIMANDOU PROJECT IN GUINEA TO BE A NEAR CERTAINTY
    • IN LONGER TERM, BELIEVE NICKEL WILL BE A SUBSTANTIAL BENEFICIARY OF THE GLOBAL ELECTRIFICATION MEGA–TREND
    • LONGER–TERM, WE SEE POTASH AS A FUTURE FACING COMMODITY WITH ATTRACTIVE FUNDAMENTALS

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    (([email protected];))

 
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Last
$40.85
Change
0.640(1.59%)
Mkt cap ! $207.3B
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Price($) Vol. No.
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