On October 20, BHP Billiton fell 3.45% in Pre-Market Trading. The move followed the company’s production update showing first-quarter copper output fell 19% year over year to 400,700 tons, which weighed on sentiment despite steady iron ore production.

BHP Billiton said the copper decline was driven by planned grade reductions, severe weather in Chile, scheduled maintenance, safety stoppages, and a conveyor failure at Carrapateena. In the same quarter, iron ore output was flat at 66.5 million tons, with Western Australia Iron Ore setting records at both mines and port. Copper prices were about 50% higher than a year earlier, but the production shortfall in a key growth segment appears to have dominated the market reaction. The company also said Stage 1 of the Jansen potash project is 87% complete and remains on track for first production in mid-2027.

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