BHP sees strong China demand, declares dividend bonanza
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BHP sees strong China demand, declares dividend bonanza
BHP sees strong China demand, declares dividend
bonanza
BHP Group on Tuesday reported its best first-half profit in seven years and declared
a record interim dividend, as top metals user China's strong appetite for iron ore to
support its infrastructure push kept prices elevated.
China's reliance on commodity-intensive stimulus measures to sustain economic
growth has sent prices of the steel making ingredient to multi-year highs, while
the COVID-19 vaccination push has brightened outlook for trade this year.
The world's largest listed miner said in a statement it expects a continuation of strong
Chinese demand in 2021, and recovery in the rest of the world's global crude steel
production.
"It's a pretty solid result," said portfolio manager Andy Forster of Argo Investments.
"Relative to expectations, it looked pretty good, strong cash flows and dividend,
projects operationally performing well," he said. "Strong iron ore and copper should
set it up for a pretty good second half as well."
BHP is the first of its Australian peers to report this week, with all expected to cash
in on sky high prices for iron ore. Rio Tinto reports on Wednesday and Fortescue
on Thursday. Last month, BHP forecast record annual iron ore output.
Read details of the news here. : ดาวน์โหลด slotxo |
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