Five reasons the iron ore price is so high
Dalian iron ore futures rise 10%, prices of steel rebar, hot rolled coils gain 6%, spot iron at US$226 in Singapore
Company
LON:BHP
BHP Group Limited is a global leader in the resources industry. Formed from a merger between BHP and Billiton, the company is a leader in the extraction and sales of most natural resources and is particularly strong in Iron Ore, Coking and Thermal Coal, Copper, Zinc, Oil & Gas, Diamonds and most materials key to the production of steel.
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Dalian iron ore futures rise 10%, prices of steel rebar, hot rolled coils gain 6%, spot iron at US$226 in Singapore
Copper is commonly said to be the bellwether for the global economy
Copper is often seen as a bellwether for the global economy
Berenberg has raised its final payout forecast to 10% of underlying EPS, or US$1.98 per share
Significant wet weather also impacted BHP’s coal operations with the miner lowering its full-year forecasts
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Sterling is closing in on the US$1.40 level last seen in February
Compensation payments in regard to the the tailings dam disaster in 2015 are ongoing
"Any acquisition has to be for the right assets at the right value," chief executive Mike Henry told an investor briefing
Shares in the major mining companies are hitting new highs
Coal impairments meant net profits fell in spite of the good performances elsewhere
Iron ore guidance was increased as a result of the restart of the Samarco mine in Brazil last month
Mining giant BHP was the biggest cause of pain for the blue-chip bears as a surge in iron ore prices caused the stock to soar, inflicting losses of £223mln in December alone
A snapshot of some of the mining stories that made the news over the past week
A tailings dam failure led to Brazil’s worst environmental catastrophe with 19 people killed and pollution for hundreds of miles
The bears of the FTSE 100 have unexpectedly found themselves caught in a trap after news that Pfizer's coronavirus vaccine candidate was over 90% effective sent equities soaring on Monday
BHP Group is one of the world's largest mining companies
JP Morgan Cazenove's top call is BHP, which it rates 'overweight'
“We continue to believe that the fundamentals for oil and advantaged gas will be attractive for the next decade and likely beyond,” BHP said
BHP Group is one of the world's largest mining companies
“Investors clearly do not know what is going to happen next and they are acting accordingly,” said one analyst