Watched Business Sunday. CEO of BSL inferred that if....
1. Raw material prices remain high 2. Australian dollar remains high 3. Carbon Tax is brought in
then the future of manufacturing industries like BSL would be placed in a difficult environment. He also indicated that in fact an introduced carbon tax would be an indication that the government no longer wants manufacturing to remain in Australia.
I reckon BSL needs to own its own raw material company like One Steel does, but I wonder if it is to late for such a move.
Bluescope is a great company,I hope the current situation improves for them.
Hold BHP, BSL, AIO, AGO ( unfortunately AGO is really now out of the buying range of Bluescope I think ...shame )
BSL Price at posting:
$1.80 Sentiment: Hold Disclosure: Held
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(20min delay)