BHP has said an “uneven recovery” in the Chinese economy, sluggish industrial demand and higher interest rates will cause volatility in global commodity markets in the near term.
The Australian mining company said on Tuesday in its results for the year ending in June that it expected Chinese steel demand to remain depressed in 2024.
BHP and other miners have been hit by a slump in iron ore prices after demand from the Chinese property sector collapsed, threatening to squeeze earnings.
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