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Companies

BHP sees robust demand for metal in China, declares record dividend

Miner also expects recovery in the rest of global steel production

BHP declared an interim dividend of $1.01 per share, up from last year's payout of 65 cents per share.   © Reuters

MELBOURNE (Reuters) -- BHP Group on Tuesday reported its best first-half profit in seven years and declared a record interim dividend, as top metals user China's strong appetite for iron ore to support its infrastructure push kept prices elevated.

China's reliance on commodity-intensive stimulus measures to sustain economic growth has sent prices of the steel making ingredient to multi-year highs, while the COVID-19 vaccination push has brightened outlook for global trade this year.

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