BHP's Copper Earnings Fuel Record Dividend Amid Oversold Conditions

Copper prices have been trading near $6.3434 support, as oversold conditions limit further selling pressure.

BHP reported a full-year profit growth with copper contributing over half of group profits and declared a four-year high $8.7 billion dividend.

The company's underlying EBITDA increased 27% to $33 billion, driven by strong copper demand from energy transition and AI infrastructure initiatives.

Copper is trading below short- and medium-term averages with technical indicators showing strong downside pressure and an expected range of $6.3434 to $6.5096.