They are only putting the prices up due to import prices moving up at a similar rate. That's what a "competitive" market does to prices. Once the international supply/demand balance again, BSL prices will move down. Look what Iron Ore has done over the last 3 weeks- down around 25% with demand from China apparently falling. This will happen to steel eventually.
BSL is just making money while they can . Do you want them to sell at prices below imported steel prices? Domestic customers show no loyalty to BSL as a domestic supplier when imports volumes are high and product is being dumped.
These price rises are very similar to the period leading up to the GFC. I certainly hope it doesn't end the same way.
Ann: Preliminary unaudited FY21 underlying EBIT of approx $1.72Bn, page-23
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Last
$20.43 |
Change
0.110(0.54%) |
Mkt cap ! $8.990B | |||
| Open | High | Low | Value | Volume |
| $20.32 | $20.58 | $20.15 | $35.06M | 1.717M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 308 | $20.42 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.43 | 3123 | 2 |
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| BSL (ASX) Chart |