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BHP sees iron ore, coal prices cooling soon

Published 11/17/2016, 01:09 PM
BHP sees iron ore, coal prices cooling soon
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  • BHP Billiton (LON:BLT) (BHP +0.7%) CEO Andrew Mackenzie expects the rise in coal and iron ore prices may cool off soon, while BHP Chairman Jac Nasser is cautiously optimism over the outlook for the U.S. after the Trump election.
  • Mackenzie says China’s determination to push through with restructuring in its steel and coal sectors, and its increasing willingness to favor imports over domestic material, has lifted prices alongside other short-term catalysts, but "the reality is that once some of things go through, unless we see more supply disruptions, the market fundamentals would suggest some of those current numbers will drift back."
  • Nasser thinks Trump likely will moderate some of his campaign rhetoric, since the world would be left in “complete trauma if tariff levels are put up across the board to the level [he] suggested."


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