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    BHP   AU000000BHP4

BHP GROUP LIMITED

(BHP)
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Delayed Australian Stock Exchange  -  12:10:37 2023-02-03 am EST
47.91 AUD   -1.92%
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Aluminium climbs as tight supply outweighs China demand worries

11/28/2022 | 09:58pm EST

BEIJING, Nov 29 (Reuters) - Aluminium prices rebounded on Tuesday, as declining inventories outweighed demand concerns sparked by rare protests in several Chinese cities against strict COVID-19 restrictions.

Three-month aluminium on the London Metal Exchange rose 1.1% to $2,387.5 a tonne by 0221 GMT after closing lower in the previous session.

The most-traded January aluminium contract on the Shanghai Futures Exchange climbed 2% to a five-month high of 19,070 yuan ($2,649.53) a tonne.

Aluminium stocks at LME warehouses dropped 2,575 tonnes to 503,700 tonnes on Monday. Inventories were down 14.2% from 587,100 tonnes on Oct. 26.

Aluminium inventories in warehouses monitored by the SHFE declined 11.9% to 110,017 tonnes last Friday, the lowest since February 2017.

Smelters in northern China are cutting output to reduce pollution during the winter, while the resumption of plants forced to go offline due to power issues has been slower than expected, according to ANZ research.

The market outlook has also been clouded by weak demand in China, with main consumption sectors such as transportation and construction struggling from a slowing economy.

Among other metals, copper was up 0.7% at $8,014 a tonne, zinc added 0.9% to $2,964 a tonne and lead inched higher 0.2% to $2,118.5 a tonne.

Workers at Chile's Escondida mine accepted a new offer from BHP Group Ltd and will not move forward with a strike that had been planned for Monday and Wednesday, their union said.

SHFE copper gained 0.8% to 65,050 yuan a tonne, nickel advanced 1.6% to 195,740 yuan a tonne, zinc was up 2% at 24,060 yuan a tonne, and tin climbed 2.6% to 185,940 yuan a tonne.

For the top stories in metals and other news, click or

($1 = 7.1975 yuan) (Reporting by Beijing Newsroom; Editing by Subhranshu Sahu)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP LIMITED -1.92% 47.91 Delayed Quote.5.00%
S&P GSCI ALUMINUM INDEX -1.89% 162.0357 Real-time Quote.8.01%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 1.08% 6.8055 Delayed Quote.-1.66%
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Financials (USD)
Sales 2023 54 822 M - -
Net income 2023 15 507 M - -
Net Debt 2023 4 688 M - -
P/E ratio 2023 10,8x
Yield 2023 6,29%
Capitalization 169 B 169 B -
EV / Sales 2023 3,17x
EV / Sales 2024 3,23x
Nbr of Employees 45 295
Free-Float 96,9%
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Technical analysis trends BHP GROUP LIMITED
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 33,36 $
Average target price 31,70 $
Spread / Average Target -4,99%
EPS Revisions
Managers and Directors
Mike Henry CEO & Non-Independent Executive Director
David Mark Lamont Chief Financial Officer
John Kenneth Norman MacKenzie Chairman
Laura Tyler Chief Technical Officer
Edgar Basto Chief Operating Officer
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