Company Developments - BHP Group has entered into a long-term silver streaming agreement with Wheaton Precious Metals, securing an upfront cash payment of $4.3 billion upon completion [2][9] - The agreement focuses on silver output from BHP's share of the Antamina mine, with Wheaton paying 20% of the spot price per ounce of silver at the time of delivery, allowing BHP to crystallize the value of its silver by-product [3][9] - BHP reported mixed H1 2026 results, with an underlying profit of $6.20 billion, slightly below the expected $6.22 billion, and net income of $5.64 billion, significantly below the consensus estimate of $6.25 billion [4][9] - Despite the bottom-line misses, BHP showed operational strength with an underlying EBITDA of $15.46 billion, surpassing the forecast of $15.09 billion, and declared an interim dividend of $0.73 per share, exceeding the $0.65 estimate [5][9] Industry Insights - Canada has appointed a new chief trade negotiator to the United States, indicating a strategic shift in managing bilateral trade relations amid evolving industrial policies [6][9] - U.S. steel capacity utilization stood at 77.8% for the week ending February 14, according to the American Iron and Steel Institute, serving as a key indicator of domestic manufacturing health and construction demand [7][9] - Global financial markets experienced limited movement due to holiday-thinned trading and soft U.S. inflation data, which has influenced expectations for upcoming interest rate cuts by the Federal Reserve [8][9]