BHP Billiton Ltd. (BHP) doesn't expect "clean" demand for its metals until early next year, the company's chief executive said Thursday.

Until then, there is likely to be a neutral bias to the market as the process of restocking supplies comes to an end in China but begins elsewhere, Marius Kloppers told reporters during a briefing in Johannesburg.

Kloppers said the mining company's petroleum, iron ore, base metals and coal businesses are expected to contribute more to earnings in the year ahead than commodities such as nickel.

On pricing, Kloppers said BHP Billiton is interested in systems that are transparent and market driven, and where "goodwill" isn't lost unnecessarily during negotiation. An evolution is taking place toward this in iron ore and other commodities, replacing benchmark and annual contracts, he said.

BHP Billiton last week posted a 62% drop in its full-year net profit to $5.88 billion from $15.39 billion the year before.

-By Robb M. Stewart, Dow Jones Newswires; +27 11 783 7848; robb.stewart@dowjones.com