BHP Warns Oversupply to Keep Metal Prices Lower for Much Longer
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BHP Billiton Ltd. delivered a sombre warning to global commodity markets that oversupply is very much here to stay.
Tumbling prices are creating a testing environment for commodity producers, while demand is slowing to more routine levels amid a transition in China’s economy away from investment-led growth, the world’s biggest mining company’s Chief Executive Officer Andrew Mackenzie said Wednesday.