BSL 2.80% $21.21 bluescope steel limited

Upgraded again!!!, page-69

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    Also has anyone else noticed that the guidance is based on iron ore prices of US$75 with spot prices over US$90 right now? Most forecasts (except on FMG etc. forums haha) are for lower iron ore in 2nd half of the year. The high price appears to be a reflection of higher steel prices in China, so I guess there is some advantage to higher iron ore despite increased cost of production.
 
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