Commodity demand could fall should the viral outbreak not be contained by the end of March, diversified miner says
Diversified miner BHP warned on Tuesday the coronavirus outbreak could hit commodity demand if it is not contained by the end of March, citing this as a reason to be cautious in its dividend payout for the six months to end-December.
The miner said it was being cautious due to near-term market volatility due to the coronavirus, as well as geopolitical tension, while it also was targeting lower debt levels. BHP reported a 13.6% rise in profit from operations to $8.3bn to end-December, saying it benefited from higher iron ore prices, operational stability, and favourable exchange rate movements.BHP said should the coronavirus outbreak not be contained within the March quarter, it expected to revise its economic and commodity demand growth downwards, though the effect on commodities may differ.
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