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BHP Billiton CEO says global trade tensions are curbing copper demand
Oct 31,2019 10:47CST
translation
Source:Bloomberg
The content below was translated by Tencent automatically for reference.

Mackenzie (Andrew Mackenzie), chief executive of BHP Billiton, said in a live webcast on Thursday that copper prices and demand were being affected by trade tensions between China and the United States.

Mackenzie said China's infrastructure stimulus package, partly to offset the trade rift, was supporting steel demand, iron ore imports and "bottoming out" coking coal prices.

The company believes that Samarco (Samarco) 's iron ore joint venture in Brazil is likely to resume operations within about a year of approval. The size of the business may be 1/3 of the previous scale.

Mackenzie said that based on the prospect of battery demand for electric vehicles, we are willing to develop the nickel industry.

Note: investors, including Aberdeen Standard Investments, MacroG Investments and legal and General Investment Management, have called on BHP Billiton and others to stop providing funds to groups that pursue policies that are inconsistent with the objectives of the Paris Climate Agreement.

 

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