Commodities
BHP Shares Soar to Record High on Copper Price Rally
BHP Group Ltd (LSE:BHP, ASX:BHP) shares reached an all-time high of $67.72 on Monday, a 3.9% increase from Friday's closing price of $65.16.
The surge in BHP's share price follows the company's FY26 results, which showed copper overtaking iron ore as its biggest earnings contributor for the first time.
Copper prices jumped 1.8% to US$6.68 per pound on Friday due to tight physical supply and growing demand, driven by artificial intelligence infrastructure, electrification, and energy-network investment.
BHP's shift towards copper is underlined by its growth strategy under CEO Brandon Craig, who aims to increase production from the company's existing copper portfolio as global supplies struggle to meet rising demand.