IMHO - BlueScope took an enlighten step a few years ago to...

IMHO - BlueScope took an enlighten step a few years ago to survive by reducing steelmaking (closing one of it's two Blast Furnaces)at it's Port Kembla Steelworks and building it's Northstar facilities in the US, so now it is in a much better position with a high % of it's sales now sold into high revenue markets rather than on the commodities export market (HRC & Slab into Asia). This configuration should allow BSL to still be a profitable company through any of the steel price cycles that do and will continue to occur. BlueScope back in 2008 had a MC of $25B which is roughly equivalent to a $50 price now so I suppose the sky is the limit although there are always going to be lower cycles. I certainly have a price target in mind that I will realise a profit on half of my holdings if it gets there.