💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

BRIEF-BHP Billiton comments on global iron ore & steel industry forecast

Published 08/03/2016, 12:49 pm
Updated 08/03/2016, 12:50 pm
© Reuters.  BRIEF-BHP Billiton comments on global iron ore & steel industry forecast
BHP
-
BHPB
-

March 8 (Reuters) - BHP Billiton (LON:BLT) Ltd BHP.AX :

* Global iron ore & steel forecast conference presentation

* BHP Billiton is meeting the challenges of the global iron ore market through a focus on productivity

* Chinese government's steel industry restructure plans will take time to implement

* "Short-term market outlook remains challenging"

* "Continue to increase our productivity in port and rail as we approach our targeted run rate of approximately 270 million tonnes per annum"

* Basto reiterated that the mining industry would need to continue to meet the challenges of a lower price environment through productivity

* Demand growth in China will remain weak in the short term

* Expect China's crude steel production to peak between 935-985 mt in the mid 2020s

* Productivity drive has supported an EBITDA margin of over 50 per cent at WAIO despite the iron ore price halving since 2012

* Basto reinforced company's commitment to Western Australia and its local communities

Source text for Eikon ID:nASX82rM8k

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.