Re shorts. If you look at sunsirs asian spot prices and do the margin calc, it has been falling and last spot price check was $113 USD. BSL PKSW in past said they needed at least $180 USD to make a profit assuming they reach their volume targets re fixed costs and variable costs.PKSW is blast furnace not EAF as in USA.Note energy and labour have gone up since the $180USD. These days I don't know if that is relevant , but there maybe HRC imports putting pressure on prices in Aus and NZ. USA HRC futures look better ,October around $700 ,but then going to above $800 for rest of year.Dont know shredded scrap steel prices. Re shorts ,I think some people are doing their calcs with access to much better info than me.
BSL Price at posting:
$19.60 Sentiment: None Disclosure: Held
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