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Rio Tinto Raised to Buy at Berenberg; Coming Capex May Weigh on BHP Sentiment
Rio Tinto's China Exposure Drives Upgrade -- Market Talk
BHP Sees Trend Reversal In Copper Growth, Warns Recycling Won't Be Enough
Bhp Group Ltd: Global copper demand is expected to increase by an average of 1 million tons per year by 2035.
Bhp Group Ltd released a report stating that, benefiting from the widespread adoption of copper-intensive technologies, global copper consumption is expected to increase by 1 million tonnes per year by the year 20235, doubling the average annual growth rate of the past 15 years. At the same time, the growth of copper mining production will be constrained by high costs and declining ore grades.
BHP Forecasts 70% Jump in Global Copper Demand by 2050 -- Market Talk
BHP Group Ltd, Rio Tinto and other steel-related stocks rose.
BHP Group Ltd, Rio Tinto, and other steel-related stocks followed the rise of iron ore futures. Previously, the relaxation of property purchase restrictions in several major cities in China boosted the demand outlook for the world's largest steelmaking raw material market. BHP Group Ltd in Australia rose by 2.8%, Rio Tinto rose by 2.2%, Fortescue rose by 7.4%, Bluescope rose by 2.3%, and Mineral Resources rose by 8.4%. South Korea's Hyundai Steel rose by 1.3%.
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