Why Shares of BHP Slumped in September
Shares in mining and oil and gas giant BHP Group (ASX: BHP) (NYSE: BHP) slumped by 17.5% in September, according to data provided by S&P Global Market Intelligence. The move comes as a consequence of evidence of a slowdown in China's construction market.
China matters to BHP because the company generates the bulk of its profit from iron ore, a mineral almost entirely used to make steel, and China's construction market is a key end market for steel. In addition, BHP has significant exposure to copper, a metal with considerable exposure to construction.
BHP's earnings before interest, taxation, depreciation, and amortization per segment is as follows:
Source Fool.com
