Global Commodity Prices: BHP's revenue is heavily reliant on iron ore, copper, and other commodity prices. Rising commodity prices usually boost BHP's stock price. Chinese Economic Growth: China is a major consumer of raw materials BHP produces. A slowdown in the Chinese economy can depress demand and prices, negatively impacting BHP's stock. Production Volumes and Costs: BHP's operational efficiency, including production volumes and production costs, affects profitability and investor sentiment. Lower costs and higher volumes are typically positive. Exchange Rates: As BHP operates globally, currency fluctuations, particularly the Australian dollar against the US dollar, influence its earnings and stock value. Geopolitical Risks: Political instability, trade wars, or changes in government regulations in countries where BHP operates can affect its business and stock price.