BHP Billiton said yesterday that growth in China, its most important customer, had “softened” during the three months ended September and warned “volatility and uncertainty” would continue in the short term.
The world’s biggest mining group delivered the downbeat assessment when issuing its quarterly production review. It showed strong gains in petroleum, iron ore, manganese and coal, compared with the previous September quarter, but declines in aluminium, diamonds and stainless steel materials.
China accounts for 20 per cent of BHP’s sales by value, and the rapid growth of its economy has underpinned the boom in commodities prices over the past five years.
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