BHP reporting, here are some of their outlook comments
- Global growth is expected to pick up slightly in the 2016 calendar year
- We will also reduce capital expenditure in the 2016 and 2017 financial years by a total of us$3.5 billion
- Now expect to invest us$7.0 billion in the 2016 financial year and us$5.0 billion in the 2017 financial year
- China will experience slower overall growth
- While we're prepared for lower prices across commodities, now believe period of weaker prices and higher volatility will be prolonged
- Outlook for Chinese crude steel production remains unchanged, peaking between 935 mt and 985 mt in the middle of the next decade
- The short to medium-term outlook for the sector remains challenging
- Global growth is expected to pick up slightly in the 2016 calendar year but will remain modest and subject to ongoing financial markets volatility
- Slower growth in China and the disruption of OPEC have resulted in lower prices than expected
(via Reuters)
Pretty much a consensus sort of view of the global economy out of BHP. Note, though, iron ore prices have rebounded strongly since January, so maybe we are seeing changes afoot.
