Once again hit a new high performance of the Australian mining giant BHP Billiton’s earnings in the latest release, said the core long-term commodity market is still confident that the commodities in fiscal year 2011 is still the preferred asset.However, China is expected to BHP Billiton’s iron ore demand growth rate will slow down.
Looking ahead, BHP Billiton believes that China and India and other major economies, monetary policy is to produce the desired results.While China’s fixed asset investment growth to maintain its vitality, but tightening the impact on demand for iron ore will gradually appear.Earlier, Australia’s third largest iron ore producer FMG chief executive has indicated the demand for iron ore China’s economic policies may have a “moderate impact.”
However, BHP Billiton core long-term commodity market is still confident that the commodities in fiscal year 2011 is still the preferred asset.”Strong demand in emerging economies, global commodity costs generally rise and steep curve, supply constraints as a continual theme, to help push the overall price.” BHP Billiton emphasized that many commodities (including coking coal, iron ore, copper andcrude oil) in the second half of fiscal year 2011 will be “disruption of supply”, it is expected that this phenomenon is not last long.
In the long term, BHP Billiton is expected to steelmaking raw materials, strong demand growth pace will slow, especially in China, underlying growth will return to a more sustainable level, and per unit GDP resource intensity will drop, but BHP Billiton still optimistic about iron ore andcoking coal fundamentals.
BHP Billiton 2011 fiscal year (June 30, 2010 to June 30, 2011) distributable profits (excluding non-recurring items) of $ 21.7 billion, an increase of 74%, another record performance.
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