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.
They are only putting the prices up due to import prices moving...
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Last
$22.04 |
Change
0.230(1.05%) |
Mkt cap ! $9.635B | |||
| Open | High | Low | Value | Volume |
| $21.85 | $22.09 | $21.70 | $7.086M | 323.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 21 | 1239 | $22.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.05 | 833 | 12 |
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| BSL (ASX) Chart |