Ann: FY2021 Full Year Results ASX Release, page-31

Could be a number of things..

1. Someone posted the other day that some of the US majors were trying to muscle in on BSL are selling into???
2. Steel companies haven't got a good history for holding Shareholder value. Eg Arrium went under, BSL almost did the same.
3. Confusion that BSL sells Iron Ore ( I doubt that one as I think traders are smarter than that)
4. Some might think that Steel prices will fall as Iron Ore has already done.
5. Someone is manipulating the price to buy more shares cheaper.
6. I think the ACCC civil action is still ongoing
7. BSL isn't regarded any different to other steel companies.

The history of BSL shows it is very hard to predict when & why the share price will move. I probably didn't answer your question however there are a heap of positives out there that I don't believe have been fully recognised in the share Price.

1. Little debt
2. Massive profits (Steel prices still moving higher and Iron Ore costs reducing)
3. Sell mainly into domestic markets (Australia, USA, Asia where their production facility are.)
4. Targeted expansion in key markets
5. Sound strategy - good management
6. Buybacks - Less than 500 millions shares now
7. Had to pay out some decent dividends(unfranked) to get rid of cash. Once they can give out franked dividends I believe the share price could double. All IMO.