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Australian (ASX) Steel Industry Analysis

UpdatedMay 09, 2026
DataAggregated Company Financials
Companies36
  • 7D4.7%
  • 3M-0.08%
  • 1Y30.0%
  • YTDn/a

In the last week, the Steel industry is up 4.7%, with Fortescue up 6.3%. During this same period, the Coronado Global Resources underperformed, falling 8.9%. This takes the industry's 12 month performance to a gain of 30%. As for the next few years, earnings are forecast to decline by 1.1% per annum.

Industry Valuation and Performance

Has the Australian Steel Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 09 May 2026AU$93.4bAU$56.6bAU$5.0b12.8x18.6x1.6x
Mon, 06 Apr 2026AU$88.2bAU$58.1bAU$5.3b11.8x16.7x1.5x
Wed, 04 Mar 2026AU$87.7bAU$57.5bAU$5.2b13.8x16.9x1.5x
Fri, 30 Jan 2026AU$96.5bAU$55.8bAU$4.6b34.5x21x1.7x
Sun, 28 Dec 2025AU$94.3bAU$57.2bAU$4.8b31.5x19.6x1.6x
Tue, 25 Nov 2025AU$86.3bAU$58.4bAU$5.0b27.7x17.3x1.5x
Thu, 23 Oct 2025AU$85.6bAU$58.2bAU$5.0b27.6x17.2x1.5x
Sat, 20 Sep 2025AU$80.3bAU$58.1bAU$4.8b25.1x16.6x1.4x
Mon, 18 Aug 2025AU$84.8bAU$60.4bAU$6.5b11.3x13.1x1.4x
Wed, 16 Jul 2025AU$74.9bAU$60.5bAU$6.7b10.2x11.2x1.2x
Fri, 13 Jun 2025AU$69.9bAU$60.8bAU$6.7b8.8x10.4x1.1x
Sun, 11 May 2025AU$71.4bAU$61.3bAU$6.9b8.1x10.4x1.2x
Tue, 08 Apr 2025AU$64.1bAU$63.8bAU$7.3b6.8x8.7x1x
Thu, 06 Mar 2025AU$72.5bAU$61.9bAU$7.1b8.6x10.2x1.2x
Sat, 01 Feb 2025AU$82.5bAU$66.7bAU$10.8b9.1x7.6x1.2x
Mon, 30 Dec 2024AU$80.7bAU$66.8bAU$10.9b8.3x7.4x1.2x
Wed, 27 Nov 2024AU$82.1bAU$65.2bAU$10.5b8.7x7.8x1.3x
Fri, 25 Oct 2024AU$84.2bAU$64.5bAU$10.4b8x8.1x1.3x
Sun, 22 Sep 2024AU$78.9bAU$63.9bAU$10.3b6.9x7.7x1.2x
Tue, 20 Aug 2024AU$77.3bAU$67.1bAU$10.9b6.6x7.1x1.2x
Thu, 18 Jul 2024AU$96.0bAU$67.1bAU$10.9b9.5x8.8x1.4x
Sat, 15 Jun 2024AU$97.6bAU$67.8bAU$11.1b10.7x8.8x1.4x
Mon, 13 May 2024AU$108.3bAU$68.0bAU$11.2b11.4x9.7x1.6x
Wed, 10 Apr 2024AU$106.0bAU$68.0bAU$11.4b8.9x9.3x1.6x
Fri, 08 Mar 2024AU$109.0bAU$68.0bAU$11.4b9.2x9.5x1.6x
Sun, 04 Feb 2024AU$122.6bAU$66.7bAU$10.7b10.1x11.5x1.8x
Tue, 02 Jan 2024AU$120.5bAU$64.9bAU$10.2b9.2x11.8x1.9x
Thu, 30 Nov 2023AU$105.1bAU$65.9bAU$10.4b8.7x10.1x1.6x
Sat, 28 Oct 2023AU$97.0bAU$67.7bAU$11.1b8.9x8.8x1.4x
Mon, 25 Sep 2023AU$92.8bAU$67.1bAU$10.9b10x8.5x1.4x
Wed, 23 Aug 2023AU$91.1bAU$67.2bAU$12.5b8.8x7.3x1.4x
Fri, 21 Jul 2023AU$96.6bAU$66.4bAU$13.0b6.5x7.4x1.5x
Sun, 18 Jun 2023AU$96.7bAU$66.2bAU$13.0b6.1x7.5x1.5x
Tue, 16 May 2023AU$89.5bAU$67.1bAU$13.3b6.3x6.7x1.3x
Price to Earnings Ratio

6.7x


Total Market Cap: AU$89.5bTotal Earnings: AU$13.3bTotal Revenue: AU$67.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Steel Industry Price to Earnings3Y Average 11.1x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Steel industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 18.6x which is higher than its 3-year average PE of 11.1x.
  • The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Steel industry have declined 28% per year over the last three years,
  • Revenues have also declined 5.5% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does Australian Steel compare with similar industries?

AU Market0.20%
Materials4.15%
Metals and Mining4.41%
Steel4.66%
Silver13.00%
Copper7.35%
Gold4.53%
Diversified Metals and Mining4.26%
Precious Metals and Minerals2.33%
Aluminum-2.30%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
FMG FortescueAU$21.276.3%
+AU$3.9b		33.3%PE12.7x
CIA Champion IronAU$5.023.5%
+AU$95.2m		8.4%PE15.1x
DRR Deterra RoyaltiesAU$4.383.8%
+AU$84.7m		18.4%PE13x
SGM SimsAU$21.651.6%
+AU$67.6m		40.4%PS0.5x
BSL BlueScope SteelAU$30.130.4%
+AU$56.9m		30.8%PE45.9x

Latest News

FMG
AU$21.27
Fortescue
7D
6.3%
1Y
33.3%
BSL
AU$30.13
BlueScope Steel
7D
0.4%
1Y
30.8%
CIA
AU$5.02
Champion Iron
7D
3.5%
1Y
8.4%
Narrative Update • May 06

CIA: Higher Discount Rate Yet Iron Ore Asset Quality Will Support Upside

Analysts have trimmed their A$ price targets for Champion Iron, citing updated assumptions for fair value, discount rate, revenue growth and profit margins, alongside recent target cuts from Scotiabank and Canaccord. Analyst Commentary Recent research points to a more cautious stance on headline price targets for Champion Iron, with some analysts fine tuning their fair value estimates by C$0.25 and C$2.75.
CRN
AU$0.26
Coronado Global Resources
7D
-8.9%
1Y
54.5%
Narrative Update • May 02

CRN: Refreshed Commodity Deck And CEO Transition Will Support Future Earnings

Analysts trimmed their price target on Coronado Global Resources to A$0.37 from A$0.40, citing updated commodity price assumptions that result in slightly higher modeled revenue and P/E, along with modestly lower profit margins and a small adjustment in the discount rate. Analyst Commentary Recent research points to a more refined view of Coronado Global Resources, with the latest price target set at A$0.37 after a mid quarter refresh of longer term commodity forecasts.
SMR
AU$2.34
Stanmore Resources
7D
0.9%
1Y
19.7%
Narrative Update • May 02

SMR: Future Returns Will Depend On Successful Queensland Coal Portfolio Acquisition

Analysts have slightly adjusted their price target for Stanmore Resources, trimming fair value from A$3.13 to about A$3.12, as updated assumptions reflect a lower revenue growth rate alongside a higher profit margin outlook and a revised future P/E of roughly 24x. What's in the News Stanmore remains a leading bidder for Anglo American's Queensland coal portfolio, a potential deal described as above $5b and involving some of the world's higher-quality metallurgical coal assets, with final bids due in late April or early May (Key Developments).
SGM
AU$21.65
Sims
7D
1.6%
1Y
40.4%
AKM
AU$0.24
Aspire Mining
7D
-5.9%
1Y
-17.2%
AVM
AU$0.099
Advance Metals
7D
16.5%
1Y
125.0%
DRR
AU$4.38
Deterra Royalties
7D
3.8%
1Y
18.4%
Narrative Update • Apr 24

DRR: Royalty Cash Flows And Dividend Policy Will Support A Constructive Outlook

Analysts have adjusted their price target on Deterra Royalties slightly higher to A$4.56 from A$4.55, citing updated assumptions around discount rates, profit margins and P/E multiples, supported by recent bullish Street research coverage. Analyst Commentary Recent research takes a constructive view on Deterra Royalties, pointing to updated assumptions around discount rates, profit margins and P/E multiples as key drivers behind the slightly higher price target of A$4.56.
JAL
AU$0.042
Jameson Resources
7D
-14.3%
1Y
5.0%
VSL
AU$5.39
Vulcan Steel
7D
4.3%
1Y
-24.1%
Narrative Update • Apr 08

VSL: Dividend Timeline Will Support Bullish Outlook On Future Earnings Multiple

Analysts have made a small adjustment to their Vulcan Steel price target, now assessing fair value at A$6.99. This reflects updated views on the company’s discount rate, revenue growth outlook, profit margins and future P/E assumptions.
BIS
AU$4.60
Bisalloy Steel Group
7D
-1.3%
1Y
37.7%
CKA
AU$0.048
Cokal
7D
-12.7%
1Y
33.3%
M4M
AU$0.006
Macro Metals
7D
-14.3%
1Y
-36.8%
MGX
AU$0.39
MGX Resources
7D
-3.8%
1Y
28.3%
CZR
AU$0.26
CZR Resources
7D
-7.3%
1Y
4.1%