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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  BHP Group    BHP   AU000000BHP4

BHP GROUP

(BHP)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 01/19
45.87 AUD   +0.92%
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Shanghai exchange yet to register nickel briquette brands

11/05/2020 | 07:11am EST

NANJING, China (Reuters) - The Shanghai Futures Exchange (ShFE) said on Thursday it had yet to add any nickel briquettes to its list of deliverable brands, even though warehouses were in theory able to receive the brick-shaped form of the battery metal from last month.

The ShFE said on May 8 it would accept delivery of briquettes against its nickel futures contract in response to growing demand from the electric vehicle (EV) sector in China, with the change to be implemented on Oct. 16.

But no list of deliverable brands has yet been published.

"There are still no nickel briquettes among the deliverable brands. The relevant access and delivery management rules are still being designed and studied," the ShFE said in a statement.

The ShFE previously only allowed delivery of plate-shaped nickel cathodes, although briquettes, which can be dissolved into battery chemical nickel sulphate, are deliverable on the London Metal Exchange.

The ShFE needs consent from producers to list their brands and decide whether to set premiums or discounts to the Shanghai nickel price, CRU analyst Ellie Wang said.

Once brands are registered, traders are likely to choose briquettes for ShFE delivery as they usually carry a lower premium than cathodes, which could push Shanghai nickel prices down, Wang added.

An official from ShFE's commodity department, who asked not to be identified, said at an industry conference on Thursday that Oct. 16 only reflected when briquettes could be delivered in principle and that work on details was in progress.

The official declined to say when they could be delivered.

Producers of briquettes include Glencore, BHP, Russia's Norilsk Nickel and South Africa's Impala Platinum Holdings.

Impala, which previously said listing its briquettes on the ShFE was not a priority, had no immediate comment on Thursday. Glencore declined to comment, while Nornickel and BHP did not immediately respond to requests for comment.

(Reporting by Min Zhang and Tom Daly; Editing by Barbara Lewis and Alexander Smith)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP 0.92% 45.87 End-of-day quote.8.11%
GLENCORE PLC -0.14% 276.35 Delayed Quote.18.82%
IMPALA PLATINUM HOLDINGS LIMITED -0.94% 213.06 End-of-day quote.5.53%
PUBLIC JOINT STOCK COMPANY MINING AND METALLURGICAL COMPANY NORILSK NICKEL 0.43% 35.11 Delayed Quote.12.05%
THE PLATINUM GROUP PUBLIC COMPANY LIMITED 0.78% 2.58 End-of-day quote.4.88%
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Financials (USD)
Sales 2021 48 675 M - -
Net income 2021 12 665 M - -
Net Debt 2021 8 536 M - -
P/E ratio 2021 17,8x
Yield 2021 3,90%
Capitalization 214 B 164 B -
EV / Sales 2021 4,57x
EV / Sales 2022 4,65x
Nbr of Employees 31 589
Free-Float 58,1%
Chart BHP GROUP
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Technical analysis trends BHP GROUP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Average target price 35,35 $
Last Close Price 45,87 $
Spread / Highest target -4,32%
Spread / Average Target -22,9%
Spread / Lowest Target -49,5%
EPS Revisions
Managers and Directors
NameTitle
Mike Henry CEO, CFO & Non-Independent Executive Director
John Kenneth Norman MacKenzie Chairman
Rag Udd CTO & VP-Technology Global Transformation
Malcolm William Broomhead Independent Non-Executive Director
Anita Margaret Frew Independent Non-Executive Director
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