Imported steel plate in USD's you'd expect the overall price to increase in AUD terms as the USD went from $1- down to $0.70 in the last few years.
One might of expected a 30% increase in AUD terms? In AUD terms plate actual came down and it continues to come down in price right now. Imported steel plate is cheaper at the current AUD - USD exchange rate and getting lower.
The only explanation apart from the iron ore price decreasing is an absolute oversupply of steel coming out of the mills. That is what is happening, produces are fighting over the sales. There is an oversupply of steel........
None of the steel mills still seem to be making any money. BlueScope could be just a ticking time bomb with the few tariffs gone.
Iron Ore now in the 30's, page-17
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