Correct more than half of the PK production was exported and when prices went south the export was horribly unprofitable which made BSL unprofitable. BSL moved to one Blast furnace at the PK operation and expanded into the USA which were the best decisions ever. I also believe around 10 years ago they were threating to close the remaining BF at PK and import feed however that didn't eventuate after the market turned and the government gave some assistance. BSL is relatively small steel company in world standards it could not lead the world in "new" expensive steelmaking technologies. If proved reliable & economical some time down the track I'm sure they will follow.
BSL Price at posting:
$20.22 Sentiment: Buy Disclosure: Held
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