There is currently significant global price movement down on both slab and HRC.
I am currently bearish on this stock.
While I understand the Technical analysis, I need to support Katana rather than Gunn this time.
BSL will have lower sale prices (domestic HRC is linked to import parity)and higher input costs (iron ore and coal) and with the BF reline next year, fixed costs will largely remain, with less tonnes to spread those costs over.
In discussions with colleagues, I have said a few times that I suspect the price will drop to $6.50ish. It will not happen overnight, but based on the fundamentals, the market will work towards it.
HT1
There is currently significant global price movement down on...
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Last
$20.43 |
Change
0.110(0.54%) |
Mkt cap ! $8.990B | |||
| Open | High | Low | Value | Volume |
| $20.32 | $20.58 | $20.15 | $35.06M | 1.717M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 308 | $20.42 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.43 | 3123 | 2 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| BSL (ASX) Chart |