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What’s MM view on BlueScope Steel (BSL)?

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    What’s MM view on BlueScope Steel (BSL)?

    Hi James and the team! Bluescope Steel. Do they have growth potential? I believe Australia has underinvested in new housing and units and that we won't be able to cater to tourists (airbnb city units) and students plus immigration now that borders are open. There may be a housing/unit shortage for several years which I'm thinking may potentially give us a building materials boom. Has the slowing building industry in China meant that a company like Bluescope won't do as well regardless. Thoughts? Thanks, Kim
     

    Answer

    Hi Kim,

    Like yourself we are positive building materials stocks through 2022, hence our 4% position in CSR Ltd (CSR) in the Flagship Growth Portfolio. However the BSL share price is highly correlated to the iron ore price which we are not a huge fan of, especially after its strong bounce, hence BSL is not on our radar at present.

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    BlueScope Steel (BSL)
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