On September 8, BHP Billiton rose 3.21% in regular trading, trading at $93.15 per share, with turnover of approximately $39.27 million. The rally was driven by LME three-month copper breaking through $14,533 per tonne to a fresh all-time high, with year-to-date gains of approximately 17%, as structural supply-demand imbalances continued to push prices higher.
On the same day, BHP Billiton and Polish copper giant KGHM Polska Miedz signed a memorandum of understanding to explore potential areas of cooperation in mining. The agreement creates a framework for sharing technical knowledge, comparing operating practices, and assessing potential exploration and development opportunities, though no specific projects or investments were announced.
BHP Billiton's latest full-year results showed copper EBITDA reached $18.19 billion, surpassing iron ore for the first time and accounting for approximately 54% of group EBITDA. The company is targeting a self-funded 40% copper production increase over the next decade. UBS forecasts global refined copper shortfalls widening from 219,000 tonnes to 379,000 tonnes next year, with copper prices projected to reach $15,000 per tonne by year-end. Within the Diversified Metals & Mining sector, Teck Resources rose 4.49% and Rio Tinto gained 2.22%, reflecting broad strength in copper-linked equities.
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