Movement Alert｜BHP Billiton Falls 3.24% in Regular Trading, Q1 copper output decline weighs on sentiment

Market Focus10-20

On October 20, BHP Billiton fell 3.24% in Regular Trading, trading at $80.69 per share, with turnover of $18.1785 million.

The move followed the company’s quarterly operating update showing copper production for the September quarter fell 19% year over year to 400,700 tons, pressuring sentiment toward a business increasingly viewed as a core growth driver.

Details from the update showed the decline was driven by planned grade declines, severe weather in Chile, scheduled maintenance, safety stoppages, and a conveyor failure at Carrapateena. Iron ore output was steady at 66.5 million tons, with Western Australia Iron Ore setting records at both mines and port, while the company also said copper prices were about 50% higher than a year earlier. Even so, weaker copper volumes appear to have dominated the market reaction.

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