I think it is more so around the 1.1 mark. Those furnaces have...

I think it is more so around the 1.1 mark. Those furnaces have to keep working or the cost impost to stop an operation then re-start is quite large.
From all accounts, Infrastructure has had a large up turn. The only news you hear about China is housing, which of course is within a correctional faze but it would only take some 18 months for that to roll over with a Politburo "YOU WILL MOVE HERE".
The infrastructure that is required to be maintained along with what needs to be built is staggering, its a shame we do not hear about the positives in that country which does directing affect Australia and our exports.
The infrastructure maintenance and replacement within the US is twice that of China and you can understand why Nippon were shown the door when they tried to buy out a steel play there just last month. The US currently does not have the capacity to under take both with manufacturing and commodities to embark on the build build build mantra the DEMS & Repubs have now agreed upon in the Senate. I think the only thing they have agreed upon going forward. I thought BHP trades today was interesting. A lot of small sell trades on sell and a lot of large trades that soak up .05 cent hits at anytime or buy at "market price" hence the upwards trajectory after around mid day.
The divs are going to be interesting.
August is always a nightmare to trade.