BHP warns of inflation risks in 2023, says China demand to stabilize. mining miningnews china
BHP Group Ltd, the world’s biggest miner by market value, said on Wednesday that inflationary pressures would remain a challenge next year, but that China will provide a source of stability for commodity demand.
Mining firms have been warning high inflation could hit short-term demand and slow growth plans, although earlier this year skyrocketing prices for iron ore and other resources buoyed profits. Agar said Europe and the UK are “almost certainly going to experience recession”, and the US economy will slow down. But China’s demand for commodities will return as government stimulus measures take effect.
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