$BHP

ASX 200 futures point to a lower open, down 0.36% to 8:30 am AEST, after the S&P/ASX 200 fell 0.8% on Friday and ended the week down 1.6%. The article cites weaker commodity prices and uncertainty around earnings. Key ASX results due include JB Hi-Fi, a2 Milk, Aurizon and BlueScope Steel, with NAB’s quarterly update. It also notes US and European market moves and oil up to $88.52.

ASX 200 closed at 9,115.20, down 0.8% on the day and 1.6% for the week, with miners weighing on the index. BHP fell 3.31% and Rio Tinto 3.14%. The Information Technology sector rose 2.83%. Seek gained 9.13%, while Mesoblast and 4DMedical fell. BHP is set to report next week’s FY results.

BHP Group shares (ASX:BHP) fell 3.44% to A$61.29 after a gap down, as the ASX 200 and resources sector weakened and copper and iron ore prices retreated from recent highs. Analysts’ consensus price target is about A$59.98. Full-year results are due next week, with expectations for $57.8b revenue and $12b profit.

Australia’s ASX200 is set for its worst week since April, down 0.71% to 9,123 by midday, as banks and miners fell. Materials slid over 3% as gold and copper eased. BHP shares dropped 3.8% to $61.05 ahead of results. Westpac, ANZ and CommBank flagged double-digit home-loan application declines.

Copper prices rose from about $4.25/lb to above $6 amid supply-demand tightness, with S&P Global citing strategic importance and projecting demand to reach 42 million metric tons by 2040. The piece highlights copper-linked data center demand and names Blue Moon Metals (TSXV: MOON, NASDAQ: BMM), Rio Tinto, Freeport-McMoRan, BHP, and Teck. It also details Blue Moon’s Nussir drilling assays and planned resource update.

Australia’s S&P/ASX 200 fell 0.59% to 9,196.3 by midday, with oil above US$90 a barrel and risk sentiment pressured by Middle East uncertainty and hawkish Fed comments ahead of CPI. Commonwealth Bank shares slid to $171.69 after Matt Comyn cautioned growth is slowing. AGL rose ~5% on higher statutory profit; Seek fell ~15% on a $201m write-down.

Reuters reports President Donald Trump will meet US and allied critical-minerals mining executives on Friday as his administration expands efforts to secure supplies and reduce reliance on China. The White House says critical minerals are needed to replenish weapons stockpiles. Expected attendees include Rio Tinto, BHP, Freeport-McMoRan, MP Materials, USA Rare Earth, Energy Fuels, and The Metals Company.

Copper hit an all-time high of $6.80/lb. The article cites supply tightness and rising demand from EVs and data centers, plus stockpile drawdowns. It says China’s growing control of smelting and refining, with subsidized capacity, is pressuring Western smelters. It notes BHP (+55% in 12 months), Sandfire (+80%), and Freeport McMoRan (+70%).

Cochilco data show Chile’s major copper output rose in June year over year at BHP-controlled Escondida (111,400 tons, +45.8%) and at Collahuasi (34,900 tons, +1.7%). State-run Codelco output fell 4.8% to 114,400 tons. The figures matter for investors tracking supply trends and company production.

Chile’s state copper commission Cochilco reported June copper output rose year over year for major producers. BHP-controlled Escondida increased 45.8% to 111,400 metric tons, and Collahuasi (Anglo American and Glencore) rose 1.7% to 34,900 tons. Codelco, the state-run producer, fell 4.8% to 114,400 tons.