I agree with most of what you have said although total steel...

I agree with most of what you have said although total steel imports have fallen off a cliff which has now means BSL is struggling to keep up with all the extra domestic demand that has been ordered (BSL are at max capacity). I also agree this situation is not sustainable and once either global demand falls or global production increases prices will come off and when they do it is likely to be quick. I feel for businesses that are affected by the drive for a "competitive" market as it great when prices are low however hard to mange when prices are variable and high. Up until the mid 90s Australian steel prices were very stable with an annual price increase fairly much aligned with CPI. With the increases in imports and the drive by customers for BSL to be competitive with those imported prices the industry has changed into the highly volatile situation we have now.

.BSL is now structured to hopefully be are to go through the different price cycle and still be profitable.