Skip to content
Opinion
Clara Ferreira Marques

BHP’s China Glass Is Half Full: Elements by Clara Ferreira Marques

After posting record earnings, the world’s biggest miner looks ahead to stimulus policies.

A worker pries up molten cast iron from a blast furnace at a Chinese steel plant.

A worker pries up molten cast iron from a blast furnace at a Chinese steel plant.

Source: VCG/Visual China Group

Hello, this is Clara Ferreira Marques with today’s edition of Elements, Bloomberg’s new energy and commodities newsletter. We bring you a daily mix of commentary from Bloomberg Opinion writers and the best of our market-leading news coverage. We hope you’re enjoying it, and if you haven’t yet signed up to get it direct into your inbox, you can do that here.

It’s hard to find good news in China’s economic tea leaves these days. A property slump is dragging down the world’s biggest steel industry, consumers are pessimistic, and there’s no sign of relief from draconian Covid Zero policies (just ask shoppers fleeing a Shanghai IKEA store). BHP Group Ltd. still sees reason for optimism.