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BHP Billiton Limited (BHP)

  • Jun. 15, 2011, 8:05 AM
    A 50% fall in Chinese inventories over the past 2 months - from 600K tons to 300K tons - suggests the country will soon have to step up copper imports, giving support to the price. With much of the commodity sector having gotten hit lately, copper has held its own, suggesting this information is priced in.
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  • Jun. 9, 2011, 1:11 PM
    If Chinese property is rolling over, global miners' bet on Chinese demand moving across the page from low left to high right on a steep slope and without interruption will be a loser. After that, shipping, where 40% of the entire dry-bulk industry revolves around moving iron to China.
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  • Jun. 1, 2011, 5:55 AM
    BHP (BHP +0.3%) will register a $580M tax credit after the High Court of Australia decides in favor of the company in its dispute with Australia's taxation office. The tax credit will show up as an exceptional item in its June 2011 fiscal results. (PR)
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  • May 31, 2011, 10:24 AM
    The latest installment of the BBC's Bubble Trouble series aims at the copper market, where inventory looks to be far higher than bullish analysts will admit. Even something as simple as counting copper in warehouses is a tricky exercise. Banks buying up warehouse firms opens up troubling conflicts of interest.
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  • May 25, 2011, 8:51 AM
    Yesterday it was Goldman Sachs, today it's JPMorgan hawking the prospects for copper. "Demand is stronger than production," says the head of its global commodities group. Another bullish analyst notes inventories look to be rolling over, a bullish signal for the metal.  JJC +1.5%, FCX +0.9% premarket.
  • May 23, 2011, 10:47 AM
    Partly behind copper's outsized drop today is a report from China showing its imports of the metal thru April are 29% less than the same period last year. The price of copper could be as vulnerable to a crackdown in its use in financing schemes as to a decline in economic activity. JJC -3.6%.
  • May 23, 2011, 9:10 AM
    Premarket gainers: CFSG +17%. SQNS +14%. KKD +12%. INVE +12%. BQI +8%.
    Losers: JAMN -13%. CTICD -7%. LNKD -7%. ALU -4%. SDRL -4%. ARUN -4%. RENN -4%. SNE -4%. LNG -4%. ARMH -4%. AIXG -4%. PCBT -3%. ING -3%. STM -3%. SINA -3%. LDK -3%. FCX -3%. BHP -3%. BUD -3%. NBG -3%. SI -3%. NYX -3%. RDS -3%. FRO -3%. STO -3%. BIDU -3%. NOK -3%. RIO -3%. SAP -3%. RIG -3%. CAT -3%. AU -3%. JASO -3%.
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  • May 20, 2011, 8:26 AM
    "Everyone who has money is rushing to invest in iron ore," says the chief of Baosteel Group, warning of a bubble that will burst as new supplies create oversupply. VALE, RIO, and BHP have $45B slated for new mines, but the biggest losers will be speculative companies that haven't yet started production.
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  • May 19, 2011, 1:07 PM
    Bonnie Liu from Macquarie estimates 25% of China's Q1 copper imports were due to a scheme firms are using to obtain cheap credit, rather than true end demand. Part of the plan relies on high Shanghai copper prices - if they continue to fall, there will be a lot of folks long the metal needing to get out.
  • May 18, 2011, 10:48 AM
    Commodities are green across the board, regaining some of their recent lost ground. Of particular note is copper, which jumps $0.14 in less than 24 hours, pulling Freeport McMoRan (FCX +3.5%) off of levels it hasn't seen since October.
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  • May 18, 2011, 5:19 AM
    BHP (BHP) becomes the second company since the Gulf spill last year to get government approval for a deepwater Gulf exploration plan. The company must now secure drilling permits before moving ahead with the project.
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  • May 17, 2011, 8:07 AM
    The drop in confidence about base metals prices is reflected in the sharp decline in non-commercial net long positions in copper at the COMEX. A rise in Chinese output may cause worries about a glut, but more troublesome to bulls is the metal's use as a financing conduit.
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  • May 16, 2011, 9:54 AM
    Copper miners get a boost from a Goldman Sachs report saying the recent drop in copper prices represents a buying opportunity. Goldman believes a drawdown in copper inventories to "critically low levels" is coming in 2012. FCX +1.1%, CU +0.8%.
  • May 16, 2011, 8:54 AM
    The PBOC has apparently put the screws to a scheme where firms purchased copper to use as collateral for below-market financing. This may explain the downturn in demand (and price) for copper. Michael Pettis says companies are already busy figuring the next way to "innovate" around credit growth tightening measures.
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  • May 13, 2011, 8:16 AM
    Only 24 hours ago threatening to take out lows going back to November, copper continues a sharp reversal, back over $4.0/lb. Copper traded in Shanghai is in backwardation, indicating at least near term supply tightening. Could Freeport-McMoRan (FCX) bounce hard off the $48 level again?
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  • May 11, 2011, 7:48 AM
    Not participating in the moderate recovery in commodity prices is copper, whose fall today puts the metal near last week's lows. Still-perky Chinese inflation is leading to fears of more monetary tightening, even as signs emerge that growth is slowing.
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Company Description
BHP Billiton Ltd is a natural resources company. The Company is engaged in the producing commodities, including iron ore, metallurgical and energy coal, conventional and unconventional oil and gas, copper, aluminium, manganese, uranium, nickel and silver.