BHP Group has warned that iron ore producers face more volatility ahead from a combination of increasing costs and uncertainty over Chinese demand.
The comments came despite the world’s second-largest iron ore producer delivering record full-year sales volumes from its iron ore business in Western Australia.
“Broader market volatility continues, and we expect the lag effect of inflationary pressures to continue through the 2023 financial year, along with labour market tightness and supply chain constraints,” said BHP chief executive Mike Henry.
