A small toy figure and mineral imitation are seen in front of the BHP logo in this illustration taken November 19, 2021.
Western demand for commodities on the other hand has been seen hurt by the lagging impact of interest rate hikes.
“You can’t deny that commodity prices have come off a fair bit from where they were, (but) they are still pretty healthy, the iron ore price in particular,” Forster said.
Inflation is also expected to raise the floor for commodities prices, including copper and iron ore, BHP said, seeing prices for the latter trade around $80-$100 a ton.
BHP produces iron ore in Western Australia for $17.79 a ton.
Persons:
Dado Ruvic, Mike Henry, BHP, Andy Forster, ” Forster, “ Capex, That’s, Jansen, Henry
Organizations:
MELBOURNE, BHP Group, BHP, REUTERS, Macquarie, Argo Investments, Oz Minerals
Locations:
China, India, Australia, Canada, Western Australia