While Asian steel prices have come off from the peak they are still well above average prices over the last 5 years and at this stage there has been a price death spiral that has been a feature of steel price history. The Aussie dollar is below 0.71 today & the Hot Rolled Coil price in US around $US200/t higher than Asian prices = generating great profits. Whoever has the contract to do the buyback is doing a wonderful job and this should bode well for long term holders. Having said that, 42% down from the peak ($19) only a few months ago after a record profit & forecast announcement and around 5% less shares in the market(Buybacks), is still hard to swallow.
Possible Bottom Alert ?, page-66
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Last
$20.87 |
Change
-0.080(0.38%) |
Mkt cap ! $9.019B | |||
| Open | High | Low | Value | Volume |
| $20.90 | $21.18 | $20.81 | $22.97M | 1.099M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9649 | $20.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.88 | 4334 | 2 |
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| Last trade - 16.10pm 18/11/2024 (20 minute delay) ? |
| BSL (ASX) Chart |
