BHP Billiton bullish on copper business, bleh on copper prices

BHP Billiton (BHP) is betting strong returns from its copper business, even though copper prices are unlikely to rise in the near term, CEO Andrew Mackenzie says in an interview today.

The China shift to a consumer-led economy from a construction-led economy will reduce demand, but it might not be as bad as had been thought. "I don't like to comment on prices, but we have to prepare for a copper outlook around the current price, or perhaps a bit lower, that is around $3 per pound," he says.


U.S.-traded copper miners: SCCO, FCX, TCK, GMO, SVBL, TLR

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Comments (3)
  • 13761362
    , contributor
    Comments (382) | Send Message
    well let's see how a total piece of junk is doing and look at it that way: that's "cemex"...a company left for dead a few years ago and now up significantly. that says to me the building trade is far from over and done here. in fact it says to me it's bottomed and should now start to head higher still. i would be a buyer. same goes for certain steel names. that pricing power says this company is a strong buy right now as well: technically speaking that stock looks poised for a breakout to an all time high to me.
    28 Jul 2013, 02:44 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (7235) | Send Message
    Does that mean 1982 pennies will be worth more than 2 cents per penny on (EBAY)?
    28 Jul 2013, 03:19 PM Reply Like
  • Molycorp52
    , contributor
    Comments (12) | Send Message
    Where are gmo`s copper mines?
    29 Jul 2013, 09:27 AM Reply Like
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