Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  BHP Billiton Limited    BHP   AU000000BHP4

BHP BILLITON LIMITED (BHP)
Mes dernières consult.
Most popular
Report
End-of-day quote. End-of-day quote  - 12/18
28.25 AUD   +1.95%
03:22a ExxonMobil, BHP end Australia gas sales joint venture
02:59aDJBHP, Exxon Agree to Compete in Marketing Gas From Australian Vent..
12:04a BHP BILLITON : Statement
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

China Economic Slowing Not Hitting Iron-Ore Steel Index

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/13/2012 | 12:21am CET

(Updates with recent price data on iron ore; European impact, HSBC analyst's comments, Chinese steel statistics.)

By Diana Kinch

Of

The slight slowdown expected in China's first-quarter economic-growth rate isn't hitting the iron-ore market, where prices continue to edge up and analysts remain bullish, said Steve Randall, managing director of London price provider The Steel Index.

After a big fall in October following China's introduction of measures to cool the property market, iron-ore has traded in a very tight band so far this year and prices edged up in March and into April. Thursday, the price was $148.80 a metric ton for iron-ore fines of 62% Fe content delivered into China, the highest so far this year, Randall said in an interview.

"There's no evidence of the world falling apart in iron ore and it's the same story for steel," Randall said. "There's no great fireworks going on."

He added, "It's ultimately supply and demand that rule the market. They possibly need 5% to 10% more iron ore this year in China and that's a big number."

Randall noted while China's overall iron-ore demand growth this year looks set to be lower than the 12% increase registered in some recent years, China's need for imported iron ore will continue to rise due to the decreasing quality of the country's own iron-ore reserves, which have an average iron content of around 20%, compared to 58% to 63% for Australian ore and 64% to 66% in Brazil.

China is due to announce its first-quarter gross domestic product figures Friday. Analysts are expecting a slowdown from 2011's annual growth rate of 9.2%.

Iron-ore spot prices hit a recent low point of $116.90 in late October after plunging from $181 in early September, remaining depressed in early 2012 on high inventories at Chinese ports, the impact of the Chinese New Year holiday and concerns over the European sovereign debt issues, Randall said.

Jonathan Brandt, a New York analyst with HSBC Global Research, said late Wednesday he didn't consider that the Chinese slowdown is affecting mining companies and that any slowdown "is not fully priced into the mining companies' shares."

"There's a disconnect between the economic statistics and what commodity prices are telling us," Brandt said in an interview. Chinese statistics on the country's crude steel production, showing a fall in output in January and February from the year-ago period were possibly misleading, as latest government figures show annualized production now running at record highs of 680 million tons a year, according to HSBC.

-By Diana Kinch, Dow Jones Newswires; 55 21 2586 6086; [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BHP BILLITON LIMITED
03:22a ExxonMobil, BHP end Australia gas sales joint venture
02:59aDJBHP, Exxon Agree to Compete in Marketing Gas From Australian Venture
12:04a BHP BILLITON : Statement
12/12 BHP hires four banks for U.S. shale exit ahead of early 2018 deadline - sourc..
12/08DJMINE THE GAP : More Women Embrace Mining Careers
12/07 ExxonMobil, Chevron, Shell paid no tax in Australia for 2016
12/06 Suffering sterling supports FTSE, activist stake boosts Whitbread
12/06 ELECTRIC CHARGE : Glencore bets big on car battery metals
12/05DJIncitec Pivot Won't Supply BHP Iron-Ore Operations Beyond 2019
12/05DJSouth32 Reduces Capital Expenditure Guidance
More news
News from SeekingAlpha
12/15 The Likely Rise Of Electric Vehicles And The Impact On Metals
12/15 FT : China to remove export tax on steel products
12/14 Investors Not Impressed As Permian Basin Rig Grows For 7th Week
12/13 Oasis Petroleum Stock Crushed (Down 17.2%) On Announcement Of Entry Into Dela..
12/12 REUTERS : BHP hires four banks for U.S. shale exit, eyeing early 2018 deadline
Financials ($)
Sales 2018 41 693 M
EBIT 2018 14 077 M
Net income 2018 7 386 M
Debt 2018 12 596 M
Yield 2018 4,24%
P/E ratio 2018 14,26
P/E ratio 2019 17,11
EV / Sales 2018 2,89x
EV / Sales 2019 2,87x
Capitalization 108 B
Chart BHP BILLITON LIMITED
Duration : Period :
BHP Billiton Limited Technical Analysis Chart | BHP | AU000000BHP4 | 4-Traders
Technical analysis trends BHP BILLITON LIMITED
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 22,9 $
Spread / Average Target 8,2%
EPS Revisions
Managers
NameTitle
Andrew Mackenzie CEO & Non-Independent Executive Director
John Kenneth Norman MacKenzie Chairman
Steve Pastor President Operations-Petroleum
Peter Beaven Chief Financial Officer
Diane Jurgens Chief Technology Officer
Sector and Competitors
1st jan.Capitalization (M$)
BHP BILLITON LIMITED10.57%108 478
BHP BILLITON PLC8.65%108 478
RIO TINTO12.78%88 154
RIO TINTO LIMITED16.49%88 154
ANGLO AMERICAN19.70%26 598
FREEPORT-MCMORAN23.73%24 575