BHP -3.06%: Q3 update from BHP today confirming that Iron ore continues to perform strongly and on track to achieve full-year volume and cost guidance while their metallurgical coal business delivered strong underlying performance due to strong pricing and decent volumes. Copper production a tad soft, Nickel & Petroleum also lower. They maintained full-year production guidance for iron ore & coal and lowered FY Copper & Nickel guidance. Costs a slight headwind buy they are being managed as best they can – we just struggle to identify what the next catalyst will be for BHP.
MM is now neutral BHP
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