BHP Group Ltd., the world's largest miner by market value, Tuesday reported a more than doubling of first half profit in big part because of high commodity prices. Here are some remarks from its midyear fiscal report.
"In the half year ended 31 December 2021, the key theme in steel was a policy induced production crunch in China. The starting point for Chinese output expectations in the 2022 calendar year is zero growth from the 1.033 billion [metric] tons produced in 2021. End-use demand in China is expected to firm over the course of the 2022 calendar year, as easier policy gradually takes hold. As is common at the start of a new five-year plan, infrastructure is expected to be supportive of steel demand."