BHP CEO Says Jury's Out on China Recovery, But Commodity Demand Robust
01 November 2023 - 3:31PM
Dow Jones News
By Rhiannon Hoyle
ADELAIDE, Australia--The chief executive of mining giant BHP
Group took a cautious tone on China as latest data stoked concerns
about the fragility of the economic recovery there, but said demand
for commodities including iron ore and copper is robust.
"There have been some green shoots over the past couple of
months, but also some things that clearly aren't progressing as
quickly as some would hope for," Mike Henry told reporters
Wednesday, referring to China's economy. "So the jury is still out
a little bit in terms of how quickly things recover."
Still, BHP hasn't seen China's economic setbacks translate into
reduced demand for its commodities, Henry said after an annual
shareholder meeting in Adelaide. Chinese iron-ore demand remains
firm and copper demand is even stronger than the miner was
anticipating six to 12 months ago, he said.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
November 01, 2023 00:16 ET (04:16 GMT)
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