Comments from BHP CEP Ian Ashby are what’s weighing on AUD:

  • Chinese steel growth has flattened off
  • Chinese big infrastructure build is coming to an end
  • Steel growth in China will remain positive until 2025

The Australian Financial Review also reported that BHP is re-evaluating over all investment plans because of less bullish commodities forecasts due to a slowdown in China. Thanks to jobber for the tip.