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    BHP   AU000000BHP4

BHP GROUP

(BHP)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 09/23
38.38 AUD   -0.72%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

BHP : Copper dips on demand worries after weak factory data

08/02/2021 | 06:07am EDT

LONDON, Aug 2 (Reuters) - Copper prices slipped on Monday, weighed down by worries about demand after weak factory data from the United States and top metals consumer China.

A weaker dollar, hopes for more stimulus in China and prospects for a strike in top producer Chile cushioned the losses.

Three-month copper on the London Metal Exchange was down 0.5% at $9,678 a tonne at 1600 GMT, after falling by 1% on Friday.

U.S. manufacturing activity grew at a slower pace in July for the second straight month, while China's factory activity expanded at the slowest pace in 17 months.

Copper prices were firmer during most of the session ahead of the release of the U.S. factory figures.

Metals are expected to retain an upside bias during the rest of the month, said Gianclaudio Torlizzi, partner at consultancy T-Commodity in Milan.

"The outlook for all base metals is bullish in August, supported by a weaker dollar after the latest dovish comments from the Fed. There are all the conditions for a spike higher," Torlizzi said.

Torlizzi said he had taken bullish positions in copper, aluminium and nickel recently, and was targeting copper revisiting its record peak of $10,747.50, aluminium climbing to $2,700 and nickel rising to $21,000.

LME aluminium rose 1% to $2,616.50 a tonne, while nickel CMNI3> shed 0.2% to $19,505.

* Also weighing on copper was profit-taking in options ahead of the LME option expiry on Wednesday, Alistair Munro at broker Marex said in a note.

* The dollar index lurched back towards the one-month low hit last week, making dollar-priced metals cheaper to holders of other currencies.

* The union of workers at BHP Group Ltd's Escondida copper mine, the world's largest, rejected the firm's final labour contract offer.

* LME cash zinc has moved to a premium of $1.50 over the three-month contract <CMZN0-3>, the first time in more than a year it has been more expensive, indicating tighter supply conditions.

* LME zinc rose 0.2% to $3,033.50 a tonne, lead gained 0.7% to $2,398 and tin climbed 0.5% to $34,825.

* For top stories in metals and other news, click on or (Additional reporting by Mai Nguyen in Hanoi Editing by Mark Potter and David Holmes)


ę Reuters 2021
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Analyst Recommendations on BHP GROUP
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Financials (USD)
Sales 2022 63 177 M - -
Net income 2022 19 820 M - -
Net Debt 2022 7 305 M - -
P/E ratio 2022 6,85x
Yield 2022 11,2%
Capitalization 138 B 137 B -
EV / Sales 2022 2,29x
EV / Sales 2023 2,63x
Nbr of Employees 40 110
Free-Float 58,2%
Chart BHP GROUP
Duration : Period :
BHP Group Technical Analysis Chart | BHP | AU000000BHP4 | MarketScreener
Technical analysis trends BHP GROUP
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 28,01 $
Average target price 33,71 $
Spread / Average Target 20,4%
EPS Revisions
Managers and Directors
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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