BHP CEO Says Jury's Out on China Recovery, But Commodity Demand Robust

By Rhiannon Hoyle

ADELAIDE, Australia--The chief executive of mining giant BHP Group took a cautious tone on China as latest data stoked concerns about the fragility of the economic recovery there, but said demand for commodities including iron ore and copper is robust.

"There have been some green shoots over the past couple of months, but also some things that clearly aren't progressing as quickly as some would hope for," Mike Henry told reporters Wednesday, referring to China's economy. "So the jury is still out a little bit in terms of how quickly things recover."

Still, BHP hasn't seen China's economic setbacks translate into reduced demand for its commodities, Henry said after an annual shareholder meeting in Adelaide. Chinese iron-ore demand remains firm and copper demand is even stronger than the miner was anticipating six to 12 months ago, he said.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

November 01, 2023 00:16 ET (04:16 GMT)

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