Forum Archive Index - December 2002

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Asteelia, as she appeared in the 'Investing in Steel' soap
on 'Sharechat' in mid October (more usually known as 'BHP Steel'), 
is a share quoted on the Australian stock exchange.    Why
then is she co-starring on New Zealand's 'Sharechat', and
why should you be interested?

BHP Steel, BSL, has a definite New Zealand connection.  BHP Steel own 
the New Zealand Steel Plant at Glenbrook, south of Auckland.  BHP 
Steel no longer has any connection with its old parent company 'BHP 
Billiton'.   'BHP Steel' was spun out on its own on a pro-rata basis 
to existing BHP shareholders in July 2002.   Because many New 
Zealanders own BHP shares, many have ended up with BHP Steel shares.  
Perhaps, like me, you are wondering what to do with them?  This is 
another good reason for discussing BSL on this forum.

Yet another connection with 'Sharechat' is the fact that one of 
Gerry's shares he follows closely, Austral Coal (AUO), is one of 
BSL's suppliers.  Austral Coal helps fire up the 'BHP Steel' owned 
Port Kembla Steelworks in New Soth Wales, Australia.  Long time 
followers of this forum will have followed the protracted coal price
negotiations of AUO with the Japanese steel makers.  So it was 
interesting in researching BSL to read the price of coal point of 
view from the other side of the negotiating table!

Yet another point of NZ interest is to see how BSL compares with 
alternative investments in the steel industry like 'Steel & Tube'( 
STU, NZ) and 'OneSteel' (ONS, Australia).  BSL is certainly bigger, 
but does that make it better?

These and other questions will be answered by the end of the week, so 
stay tuned!

SNOOPY



discl: Hold (a few) BSL



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Message sent by Snoopy 
e-mail  tennyson@caverock.net.nz
on Pegasus Mail version 2.55
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"Stay on the upside of the downside, 
Anticipate the anticipation!"



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