Key Takeaways
- BHP Group (BHP) announced a massive $4.3 billion silver streaming agreement with Wheaton Precious Metals (WPM), providing a significant upfront cash injection.
- The mining giant reported mixed H1 2026 results, with an underlying profit of $6.20 billion (missing the $6.22 billion estimate) but a dividend beat of $0.73 per share.
- Canada has appointed a new chief trade negotiator to the United States, signaling a strategic shift in managing bilateral trade relations.
- U.S. steel capacity utilization reached 77.8% for the week ended February 14, according to the American Iron and Steel Institute (AISI).
- Global markets remained muted as holiday-thinned trading and soft U.S. inflation data balanced rate-cut optimism against AI-driven sector volatility.
BHP Group Secures Massive Silver Streaming Deal
BHP Group (BHP) has entered into a long-term silver streaming agreement with Wheaton Precious Metals International, a subsidiary of Wheaton Precious Metals (WPM). Under the terms of the deal, BHP will receive an upfront cash payment of $4.3 billion upon completion.
The agreement focuses on the silver output from BHP’s share of the Antamina mine. In addition to the upfront payment, Wheaton will pay 20% of the spot price per ounce of silver at the time of delivery. This move allows BHP to crystallize the value of its silver by-product while maintaining focus on its core industrial metal operations.
Mixed H1 2026 Earnings and Dividend Surprise
BHP Group (BHP) released its half-year results for 2026, showing a complex financial picture. The company reported an underlying profit of $6.20 billion, slightly trailing the $6.22 billion expected by analysts. Net income of $5.64 billion also came in significantly below the $6.25 billion consensus estimate.
Despite the bottom-line misses, the company showed operational strength with an underlying EBITDA of $15.46 billion, surpassing the $15.09 billion forecast. Shareholders received a boost as the board declared an interim dividend of $0.73 per share, comfortably beating the $0.65 estimate. The higher-than-expected payout suggests management remains confident in cash flow generation despite volatile commodity pricing.
Canada Shifts Trade Strategy; Steel Activity Holds Steady
In a significant diplomatic move, Canada has announced the appointment of a new chief trade negotiator to the United States. The appointment comes at a critical time for North American trade relations, as both nations navigate evolving industrial policies and supply chain integrations. Analysts suggest this move is aimed at stabilizing cross-border commerce ahead of potential regulatory shifts.
In the industrial sector, the American Iron and Steel Institute (AISI) reported that U.S. steel capacity utilization stood at 77.8% for the week ending February 14. This metric remains a key barometer for domestic manufacturing health and construction demand.
Global Markets Muted Amid Holiday Trading
Global financial markets saw limited movement on Monday as holiday-thinned trading kept volumes low. Investors reacted to soft U.S. inflation data, which has reinforced expectations for upcoming interest rate cuts by the Federal Reserve.
While the macro outlook remains supportive, the market is experiencing a divide in the AI-driven sector, with some tech stocks consolidating gains while others continue to find momentum. The combination of lower liquidity and conflicting sector trends resulted in only slight movements across stocks, bonds, and major commodities.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.