I agree. Over the decades, I have often held shares in BHP, BSL...

I agree.
Over the decades, I have often held shares in BHP, BSL and ARI.

I haven't gone near BSL since about 2008, however the market conditions are near perfect currently and it has become a very compelling buy. Subsequently I bought back in during June 2021 and Nov 2021.

When I say the market is near perfect, I am referring to:
- US HRC futures above $1000 even reaching $1500 at one point.
- AUS domestic Coated steel volumes at >$2.6MT.
- AUS price rises due to lack of import material.

There in lies the problem. In this cyclical industry, no one seem to think the good market condition will last very long. Mark Vassela just released a record profit result for the 1HY and gave conservative guidance and followed that with statements about cyclical nature of the industry. But as each month goes by, and the prices hold , and we get nearer to the North Star development completion and the Aust market remains strong, there will probably come another bunch of upgrades ( as occurred last year).

Something this cycle, just seems a little stronger and longer. It wont last forever, but it wont disappear quickly either.

FT