The BHP Group Ltd (ASX: BHP) share price is down 0.31% in morning trade on this final day of June.
Shares in the S&P/ASX 200 Index (ASX: XJO) mining giant closed yesterday trading for $44.95. Shares are currently swapping hands for $44.81 apiece.
With only a partial day's trading left before the closing bell sounds the end of June on the ASX, here's what happened with the BHP share price over the month.
The highs and lows for the BHP share price in June
The ASX 200 miner ended May trading for $42.02 per share. The stock hit a closing high of $46.72 on 20 June and a closing low of $42.07 on 1 June.
If shares close out the day near current levels, the BHP share price will have gained an impressive 6.7% in June, far outpacing the 1.1% gains posted by the ASX 200.
Much of this outperformance can be pinned to commodity prices. Primarily iron ore and copper, BHP's number one and number two revenue earners.
On 31 May, iron ore was fetching US$100 per tonne. And copper was trading for US$8,089 per tonne, according to data from Bloomberg.
But with signs emerging of increasing demand – particularly from China as the People's Bank of China (PBoC) cut lending rates and the government mulled further stimulus measures – the price of both industrial metals climbed sharply in June. And the BHP share price joined the ride higher.
Iron ore hit US$117 per tonne on 7 June. It's currently trading for US$113 per tonne, up 13% in June.
Copper reached US$8,603 per tonne on 21 June. That same tonne is currently worth US$8,178, up 1% in June.
What else were ASX 200 investors considering in June?
Atop the strength in commodity prices, here's what else impacted the BHP share price over the month gone by.
The miner faced some headwinds on the first of the month amid reports that 28,500 current and former workers were found to have had their leave deducted incorrectly on public holidays.
BHP acknowledged the errors dated back all the way to 2010. Compensation for the affected employees is estimated to cost some US$280 million ($430 million).
The miner also acknowledged the profit-boosting potential of AI.
On 9 June, the Motley Fool reported on BHP's collaboration with Microsoft Corp (NASDAQ: MSFT). The two powerhouses are working together, using AI and data analytics, to increase the efficiency of copper recovery at BHP's flagship copper project, Escondida, located in Chile.
The BHP share price closed up 1.3% on the day.
