BHP is cautious about the short term market outlook for our key commodities, yet there are promising signs in the medium term. And, we remain confident that economic trends signal a positive long term demand for BHP commodities.
In the medium term, emerging Asia remains rich with opportunity. China, India, ASEAN and the global impact of China’s Belt and Road Initiative are all expected to increase demand for our products.
As global consumers absorb the true economic costs of trade protection, we anticipate a popular mandate for a more open international trading environment.
Looking further ahead, our positive long term view remains.
Population growth and rising living standards are likely to drive demand for energy, metals, and fertilisers for decades to come. And new demand centres will emerge where the twin levers of industrialisation and urbanisation are still developing today.
The electrification of transport and the decarbonisation of stationary power will progress. And the comprehensive stewardship of the biosphere and the ethical management of our end–to–end supply chains will become even more important for building community and investor trust.