thoughts about price tomorrow, page-10

Morning all

Has anybody seen any sign at all (except for China with Copper a couple of months ago) that anybody is stockpiling any commodity that BHP produces?

So what/who to believe...

1. Marius Kloppers perhaps?

Global resources demand not over yet: BHP chief

BHP chief executive Marius Kloppers says he believes developing countries will continue to drive strong demand for resources (ABC TV)

BHP has posted an increase in profit of 15 per cent to $17.6 billion for 2008.

Commodity prices have fallen sharply in the last month, which has prompted speculation over whether the mining boom is ending.

It has also generated fears that China's demand for resources could be waning.

But Mr Kloppers says the slowdown in China appears to be concentrated in its light manufacturing sector.

"For those economies that are in the heavy sectors, for those economies that are primarily driven by local investment and local consumption, we see strong performance and strong outlook," he said.

"These sectors are by far the largest drivers of our resource demand."

He says he believes developing countries will continue to drive strong demand for resources.

"Look at the growing investment of capital investment pipeline that we continue to expand - that gives you the signals of how we feel about that material intensive growth in the developing world over many years," he said.

BHP Billiton's shares closed up 1.6 per cent to $38.60.


2. The evidence of your own eyes and maths?

3. The media?

It's a no-brainer really isn't it...

:)