Movement Alert｜BHP Billiton rises 3.08% in Regular Trading, higher copper prices and tight supply support the stock

Market Focus10-27 22:11

On October 27, BHP Billiton rose 3.08% in Regular Trading, trading at $81.65, with turnover of $64.70 million.

The move came as the market focused on resilient copper pricing and ongoing supply tightness, even after the company reported weaker quarterly copper output.

In the three months through September, BHP Billiton produced 400,700 tons of copper, down 19% from a year earlier, citing planned grade declines, scheduled maintenance, severe weather in Chile, safety stoppages, and a conveyor failure at Carrapateena. The company also said copper prices were about 50% higher than a year earlier. With global copper inventories remaining low and the market continuing to price in constrained supply, investors appear to be emphasizing the earnings leverage of BHP Billiton's copper business. Earlier disclosures indicated copper had already contributed more than half of group EBITDA, while iron ore output in the quarter was steady at 66.5 million tons.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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