Commodity demand echoes in BHP results

The main theme of the BHP results is that China is transitioning from being the main driver of growth in demand for commodities, to being a steady source of demand. — Reuters

THE changing nature of China’s commodity demand is neatly encapsulated by the latest results of BHP Group, the world’s biggest mining company and a major supplier to the top global buyer of iron ore, coal and copper.

BHP reported a steady first-half result yesterday, recording US$6.6bil in underlying profits, the same as the year-earlier period and beating an LSEG estimate of US$6.42bil.