See below a comparison below of Iron Ore vs Steel price. As you can see the steel price usually follows the Iron Ore price. A couple of months ago the IO price tanked due to China reducing their steel production reducing their need for Iron Ore. At the same time China also cancelled their export rebates on Steel products which increased the global price of steel. The gap between these two products means there has been a massive increase in the margins for Steel products globally. During this same period BlueScope have increased their forecast for the 1st Half of FY22 to $2billion dollars and yet the share price has reduced by 20% . Very Strange. Have a good weekend all.
See below a comparison below of Iron Ore vs Steel price. As you...
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$20.16 |
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Mkt cap ! $8.852B | |||
| Open | High | Low | Value | Volume |
| $20.13 | $20.42 | $19.97 | $25.62M | 1.271M |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5248 | $20.16 |
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| Price($) | Vol. | No. |
|---|---|---|
| $20.17 | 598 | 1 |
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