Ann: Preliminary unaudited 1HFY21 underlying EBIT of around $530M, page-92

Thanks, I'm glad you enjoy our banter. As you can probably see by my posts I've got a bit of passion around the steel industry. Yes it is hard to find free data and I suppose people do make a living from supplying the data.

I did find a site www.investing.com which has some data on their website although they don't let you download it without signing in. The data basically shows from July 19 to October 20 the steel scrap price moved between USD250 and USD300/t then rapidly increasing to USD450/t by Jan 2021 and now sits around $USD435/t. The steel price also started going higher strongly in November 2020 however at a much higher dollar rate than the steel scrap and therefore Northstars' margin should still be much higher than the 1st half of the year.

I believe BSL still has a couple of legal entities in Australia being JLA ( John Lysaght) and AIS (Australian Iron & Steel). I believe the transfer prices you mentioned is just the method used to charge JLA for the HRC they take from AIS to balance the books. Real product profitability would be calculated using real cost data through both businesses.

I must say I'm am tempted to sell a few a current prices as it has reached a level where I thought it would be in 12 months.