Global steel prices are down around 10% over the last couple of weeks(maybe because of the IO fall) leading to the share price fall. If it goes further domestic Australian customer will reduce orders waiting for a price bottom and BSL will need to find more orders offshore which are likely to be at lower prices.
I hope this doesn't turn into a death spiral where prices sometimes fall to below the cost of production. Although nowhere near that position yet.
BlueScope is a great company that can now withstand such events however the massive profits could disappear quickly. Time will tell.
Global steel prices are down around 10% over the last couple of...
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Last
$20.32 |
Change
0.400(2.01%) |
Mkt cap ! $8.942B | |||
| Open | High | Low | Value | Volume |
| $19.92 | $20.32 | $19.61 | $40.11M | 1.987M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100 | $20.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.32 | 1903 | 2 |
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| Last trade - 16.10pm 27/06/2024 (20 minute delay) ? |
| BSL (ASX) Chart |