BSL - Bluescope Steel

[DJG]

Does anybody have an idea on what happened to BSL on Friday's close?
Google Finance & Business Day said it was up 595% in a day!
ASX website had a question mark for the price.

I don't have a position in BSL but just really curious what could move it so much? I was thinking maybe a fat finger trade but even at 595% I still found it hard to believe.

Cheers

 

[thepizzaking]

Does anybody have an idea on what happened to BSL on Friday's close?

1 for 6 share consolidation: http://www.steelguru.com/internatio...completion_of_share_consolidation/295955.html

 

[Country Lad]

Yes it did appear to go up by that much to the unwary, but it was actually a 1 for 6 share consolidation.

Cheers
CL

 

[DJG]

Ah right, thought it was a bit odd.

Thanks guys

 

[pixel]

It seems the consolidation made Bluescope attractive for fundies and bigger investors. Technically though, the Fib 161.8% level should make a reasonable reversal point. Check ARI - same thing.

Notting, I presume you meant BSL, not BLS. Happy Shorting - should be a promising prospect soon.

 

[notting]

Notting, I presume you meant BSL, not BLS. Happy Shorting - should be a promising prospect soon.

Yes I did, thanks and sorry!

 

[bigdog]

Bluescope showing encouraging signs with share price increasing - refer chart attached

With a change of government to Liberals in September, potential of cancellation of carbon tax could be good news for BSL!

Encouraging report in todays The Age
http://www.theage.com.au/business/iron-ore-miners-out-of-favour-20130530-2neq9.html

The decline in the iron ore price is potentially good news for local steel producers such as BlueScope Steel, which is working as well to limit the impact of high iron ore prices on earnings.

BlueScope is ramping up export volumes of iron sands, for example, to help offset overly strong iron ore prices on its bottom line. It is doubling iron sands exports to 1.7 million tonnes, which coupled with using some of the product at its Port Kembla steelworks, will help to lift overall iron ore sales to 2.7 million tonnes annually.

The company operates its own iron sands mine in New Zealand, with part of the output used at its local steelworks. The boost to exports will give BlueScope a 55 per cent ''hedge'' against iron ore prices, it said.

Additionally, BlueScope is still boosting exports of coke, following the closure of one of the two blast furnaces at Port Kembla, which has left it with surplus production capacity. It now devotes one of its coke ovens solely to service export markets.

From coke export volumes of 172,000 tonnes in fiscal 2011, this rose to 516,000 tonnes in the next financial year, in the wake of the closure of one of the two blast furnaces at Port Kembla.

It rose further, to 360,000 tonnes in the December half alone, which has lifted it to an annualised rate of 720,000 tonnes.

To help boost coke exports further, it has reconfigured some of its port capacity.

BlueScope is believed to be selling a large part of its coke to international trader Noble Corp.

560

 

[Knobby22]

I'm pretty pleased with the Bluescope results. I have been holding for a while for no gain expecting good results due to the falling $A and its good to see it reflected in the price finally.
Just read the headlines. Haven't had a chance to study them yet.

 

[piggybank]

Hi,

For the Fundamental guys here, I was wondering what your opinion(s) were of today's 1H FY2014 Half Year Results Investor Presentation (http://stocknessmonster.com/news-item?S=BSL&E=ASX&N=402578) as well as the Value, Income, Risk and Growth figures I have highlighted - are they something that would keep you awake at night if you had a decent parcel of their shares presently? Any feedback would be appreciated.

​

Regards
PB

 

[Knobby22]

Future prospects look good but there are divisions not performing well.
Also consider underlying earnings not just the front figures.

 

[notting]

Does everyone who looks at this stock immediately become retarded?
This thing should be trading at about a dollar in this environment.
Perhaps the rest of the market is totally wrong.
But it gets it right on BSL.
It's such a shame we can't have two letter tickers on the ASX.
Yep. BS.

 

[leyy]

Any thoughts on BSL?


I just bought a parcel for a short-medium hold.

This business has been transition phase and cost cutting the last two years.

The upside:

Low iron ore prices to produce steel

Low AUD/USD (circa 30% income is in USD)

Fair construction activity in AUS/NZ


cheers

 

[Triathlete]

Any thoughts on BSL?


I just bought a parcel for a short-medium hold.

This business has been transition phase and cost cutting the last two years.

The upside:

Low iron ore prices to produce steel

Low AUD/USD (circa 30% income is in USD)


cheers

Just from a technical view on a weekly chart the stock is still in a downtrend. It has a natural support level around $4.70 so may come back here and hopefully no lower. The next two natural resistance levels above are at $5.16 and $5.61 ( my view only). The stock is not showing too much at this stage technically and might just move within these levels. I would at least be waiting until it breaks through the downtrend line before taking a look at the stock if going long..

 

[notting]

Going gang busters :silly:

Cracked $8.45 Yeah go on keep going. It will only mean more when reality dawns.

 

[skc]

Going gang busters :silly:

Cracked $8.45 Yeah go on keep going. It will only mean more when reality dawns.

I seriously don't get it. Didn't they just recently got some concession from the union and the government saying how tough things are... then next thing you know they upgrade profits 3 times in 6 months.

 

[luutzu]

I seriously don't get it. Didn't they just recently got some concession from the union and the government saying how tough things are... then next thing you know they upgrade profits 3 times in 6 months.

It's call corporate welfare. Where you cry poor and the poor workers make their sacrifices to keep their job and the help the company out; the gov't step in and with taxpayer cash, help a struggling Aussie out.

Then managers pocket their bonuses, shareholders get some, and we all can't afford anything anymore.

 

[notting]

Pays a .35% dividend then plummets 4% obviously alot of smart people holding for the glorious moment of getting a dividend. :bloated:

 

[dutchie]

45 million shares change hands during closing auction. Whats that all about? Buy back?

 

[skc]

45 million shares change hands during closing auction. Whats that all about? Buy back?

MSCI rebalance.

http://www.afr.com/street-talk/massive-bluescope-volume-on-index-change-20170531-gwhf80

 

[dutchie]

MSCI rebalance.

http://www.afr.com/street-talk/massive-bluescope-volume-on-index-change-20170531-gwhf80

Thanks skc