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BHP's Iron Ore Output Edges Up as Supply Glut Concerns Grow [Financial Post (Toronto, Ontario, Canada)]

BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP) 
US:NYSE Investor Relations: bhp.com/investor-centre
Company Research Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — BHP Group Ltd. said iron ore output in its first quarter rose 2% from the year-before, as moves by major miners to ramp up production raise the specter of over-supply. The world's largest miner produced 64.6 million tons of iron ore over the three months to the end of September, it said in a statement Thursday. Full-year guidance for its iron ore operations was kept at 255 to 265.5 million tons. It comes as China — the biggest consumer of iron ore — attempts to prop up its struggling property sector amid a slump in its economy. While domestic steel demand is muted, it has been somewhat offset by the local manufacturing industry and exports to other Asian markets. “China has announced a series of monetary easing policies in an effort to support economic growth, and has indicated more significant fiscal stimulus is on the horizon,” BHP Chief Execu Show less Read more
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