until the price of steel goes up or bsl's expansion into asia shows thru in the next report, the price will stay low. it may rise on t/o speculation as the steel sector globally undergoes consolidation but with the market split between the view of slowing global growth and continuing above trend growth the price may lag for a while. steelers are one of the leading indicators of economic health and so unless market consensus is that global growth is going great guns, the price will lag. (IMHO), growth remains strong underpinned by large infrastructure/ mining projects but oversupply of steel globally will be a drag for a while yet - maybe until end of the year. appropriate price i still say between 10.40 and $15 on pe's of between 8 and 12.
cheers
until the price of steel goes up or bsl's expansion into asia...
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$22.26 |
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-0.670(2.92%) |
Mkt cap ! $9.763B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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