$BHP Group Ltd (BHP.AU)$ The best chart to tell the story is...
$BHP Group Ltd (BHP.AU)$ The best chart to tell the story is the 12 month chart.
BHP was $50 last Xmas because IO was north of US$140/t.
It's been mostly down hill throughout 2024.
Iron Ore will likely stay down now unless there is a blackswan event like in Jan 2019 when Vale's dam collapsed in Brazil and took considerable supply out of the seabourne market or the CCP does some massive stimulus to support the Chinese steel making industry.
Neither looks likely at present so I think its best to try to pick a bottom for BHP share price in the coming months and hold until copper output and price has its season!
BHP was $50 last Xmas because IO was north of US$140/t.
It's been mostly down hill throughout 2024.
Iron Ore will likely stay down now unless there is a blackswan event like in Jan 2019 when Vale's dam collapsed in Brazil and took considerable supply out of the seabourne market or the CCP does some massive stimulus to support the Chinese steel making industry.
Neither looks likely at present so I think its best to try to pick a bottom for BHP share price in the coming months and hold until copper output and price has its season!
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