With the mining industry currently booming, BHP Billiton [ASX:BHP] dropping in share value by 2.50% is out of the ordinary.
Their sinking share price is a result of oil and iron ore dropping. While aluminium closed at a lower rate as well.
Trading simply hasn’t been going well lately in regards to minerals and resources across the American region.
Australian shares have been described as underweight by the US banks. And large companies such as BHP Billiton are suffering due to a lack of interest across international fronts.
Trading with the US has weakened the value of resources
Market highlights displayed some poor figures regarding resource and mineral value.
Oil, iron ore, aluminium, copper ore and many other mineral varieties were displaying a very negative turn over.
BHP have also been dealing with a settlement dispute over coal royalties.
The dispute is worth millions to the Queensland government, as they want to address payment issues with coal prices.
US markets closed for their Memorial Day holiday, which will no doubt hinder any progress of the minerals sector being able to reach the standards of the American market.
For Money Morning
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