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Australian (ASX) Steel Industry Analysis

UpdatedJun 23, 2026
DataAggregated Company Financials
Companies35
  • 7D-4.8%
  • 3M3.8%
  • 1Y36.7%
  • YTDn/a

Over the last 7 days, the Steel industry has dropped 4.8%, driven by a pullback from Fortescue of 6.2%. In the past year, the industry has gained 37%. Earnings are forecast to be flat in the coming years.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 23 Jun 2026AU$90.5bAU$57.6bAU$4.9b13x18.6x1.6x
Thu, 21 May 2026AU$94.3bAU$57.2bAU$4.8b12.9x19.6x1.6x
Sat, 18 Apr 2026AU$92.2bAU$56.9bAU$5.1b12.4x18.2x1.6x
Mon, 16 Mar 2026AU$89.2bAU$57.7bAU$5.2b12.7x17.2x1.5x
Wed, 11 Feb 2026AU$95.3bAU$55.7bAU$4.6b33.9x20.5x1.7x
Fri, 09 Jan 2026AU$99.0bAU$57.2bAU$4.8b35.4x20.5x1.7x
Sun, 07 Dec 2025AU$93.5bAU$57.5bAU$4.9b29.3x19.2x1.6x
Tue, 04 Nov 2025AU$88.9bAU$58.1bAU$5.0b26.7x17.8x1.5x
Thu, 02 Oct 2025AU$81.1bAU$58.1bAU$4.8b27.3x16.7x1.4x
Sat, 30 Aug 2025AU$82.0bAU$58.5bAU$5.1b14.2x16.2x1.4x
Mon, 28 Jul 2025AU$80.7bAU$60.6bAU$6.7b10.7x12.1x1.3x
Wed, 25 Jun 2025AU$68.2bAU$60.9bAU$6.7b8.7x10.1x1.1x
Fri, 23 May 2025AU$71.2bAU$61.3bAU$6.8b9.4x10.4x1.2x
Sun, 20 Apr 2025AU$67.5bAU$61.9bAU$7.0b7.6x9.6x1.1x
Tue, 18 Mar 2025AU$75.8bAU$61.9bAU$7.0b7.9x10.8x1.2x
Thu, 13 Feb 2025AU$83.4bAU$66.2bAU$10.7b8.8x7.8x1.3x
Sat, 11 Jan 2025AU$78.3bAU$67.0bAU$11.0b8.3x7.1x1.2x
Mon, 09 Dec 2024AU$85.6bAU$65.8bAU$10.7b9x8x1.3x
Wed, 06 Nov 2024AU$83.8bAU$64.6bAU$10.4b8.2x8x1.3x
Fri, 04 Oct 2024AU$88.3bAU$63.5bAU$10.2b8.5x8.7x1.4x
Sun, 01 Sep 2024AU$81.4bAU$64.3bAU$10.0b8.4x8.1x1.3x
Tue, 30 Jul 2024AU$89.6bAU$68.1bAU$11.2b9.4x8x1.3x
Thu, 27 Jun 2024AU$92.6bAU$67.5bAU$11.0b10.4x8.4x1.4x
Sat, 25 May 2024AU$110.2bAU$67.9bAU$11.2b11.3x9.9x1.6x
Mon, 22 Apr 2024AU$103.7bAU$69.3bAU$11.7b8.5x8.9x1.5x
Wed, 20 Mar 2024AU$103.3bAU$68.7bAU$11.6b8.6x8.9x1.5x
Fri, 16 Feb 2024AU$115.7bAU$66.6bAU$10.8b9.4x10.7x1.7x
Sun, 14 Jan 2024AU$114.9bAU$65.6bAU$10.3b9.7x11.1x1.8x
Tue, 12 Dec 2023AU$108.9bAU$66.2bAU$10.5b8.8x10.4x1.6x
Thu, 09 Nov 2023AU$99.0bAU$67.2bAU$10.9b8.6x9.1x1.5x
Sat, 07 Oct 2023AU$93.0bAU$67.6bAU$11.0b8.6x8.4x1.4x
Mon, 04 Sep 2023AU$91.2bAU$67.1bAU$11.0b10.4x8.3x1.4x
Wed, 02 Aug 2023AU$95.8bAU$67.6bAU$13.3b6.4x7.2x1.4x
Fri, 30 Jun 2023AU$94.9bAU$67.5bAU$13.4b5.7x7.1x1.4x
Price to Earnings Ratio

7.1x


Total Market Cap: AU$94.9bTotal Earnings: AU$13.4bTotal Revenue: AU$67.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Steel Industry Price to Earnings3Y Average 11.6x202420252026
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 11.6x.
  • The industry is trading close to its 3-year average PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Steel industry have declined 29% per year over the last three years,
  • Revenues have also declined 5.2% 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 Market-0.91%
Materials-4.41%
Metals and Mining-4.62%
Steel-4.81%
Aluminum4.02%
Gold1.83%
Copper-2.01%
Precious Metals and Minerals-5.56%
Diversified Metals and Mining-6.63%
Silver-10.65%
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
VSL Vulcan SteelAU$5.023.1%
+AU$22.0m		-15.9%PE60.7x
GEN GenminAU$0.00814.3%
+AU$3.5m		-69.2%PB0.5x
IRD Iron RoadAU$0.0147.7%
+AU$832.2k		-56.3%PS86.8x
RHI Red Hill MineralsAU$4.790.2%
+AU$642.3k		52.1%PE19.1x

Latest News

SGM
AU$27.56
Sims
7D
-6.4%
1Y
80.2%
CRN
AU$0.23
Coronado Global Resources
7D
-6.3%
1Y
73.1%
Narrative Update • Jun 17

CRN: Fair Value View Balances Softer Output And CEO Transition

Analysts have raised their price target for Coronado Global Resources to A$0.26 from A$0.15, citing updated assumptions that include a lower discount rate, slightly adjusted revenue expectations, a higher profit margin and a revised future P/E estimate. What's in the News for Coronado Global Resources Coronado Global Resources reported unaudited production results for the quarter ended March 31, 2026, with ROM production of 5.4 Mt compared with 5.8 Mt in the previous quarter, and saleable production of 3.0 Mt compared with 3.5 Mt in the previous quarter.
SMR
AU$2.43
Stanmore Resources
7D
-8.3%
1Y
26.6%
Narrative Update • Jun 17

SMR: Bullish Reversal Setup And Anglo Coal Bid Will Guide Shares

Analysts have modestly adjusted their price outlook for Stanmore Resources, reflecting updated assumptions around discount rates, revenue growth expectations, profit margins and future P/E levels. Together, these factors drive a slightly different A$ fair value view for the stock.
VSL
AU$5.02
Vulcan Steel
7D
3.1%
1Y
-15.9%
New Narrative • Jun 15

Late Cycle Roofing Expansion And Hybrid Sites Will Reshape This Australasian Metals Supplier

Catalysts About Vulcan Steel Vulcan Steel supplies steel and metal products across Australia and New Zealand through an integrated network of processing, distribution and roofing businesses. What are the underlying business or industry changes driving this perspective?
FMG
AU$19.27
Fortescue
7D
-6.2%
1Y
26.5%
New Narrative • Jun 15

Decarbonization And Green Metals Expansion Will Reshape Long Term Earnings Quality

Catalysts About Fortescue Fortescue is a global resources company focused on iron ore production, emerging green metals and energy technologies, and a growing portfolio of critical minerals projects. What are the underlying business or industry changes driving this perspective?
BSL
AU$32.92
BlueScope Steel
7D
-2.1%
1Y
46.6%
Narrative Update • Jun 15

BSL: North American Expansion And Takeover Interest Will Shape Balanced Future Prospects

Analysts have lifted their fair value estimate for BlueScope Steel by A$0.90, with modest adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions shaping this updated price target view. What's in the News BlueScope Steel is expanding production capacity at its North Star steel mill in Ohio to meet demand linked to industrial, manufacturing and infrastructure activity in North America.
IRD
AU$0.014
Iron Road
7D
7.7%
1Y
-56.3%
DRR
AU$4.54
Deterra Royalties
7D
-1.7%
1Y
24.4%
Narrative Update • Jun 05

DRR: Royalty Cash Flows And Lithium Optionality Will Support A Balanced Outlook

Analysts have increased their A$ fair value estimate for Deterra Royalties from A$4.56 to A$4.65, citing a refreshed view on discount rates, revenue trends, profit margins, and future P/E assumptions following recent Street research. What's in the News J.P. Morgan maintained its Buy rating on Deterra Royalties with a price target of A$5.20, while Morgans also kept a Buy rating with a price target of A$5.10, following recent research coverage.
CIA
AU$3.82
Champion Iron
7D
-9.0%
1Y
-6.6%
GEN
AU$0.008
Genmin
7D
14.3%
1Y
-69.2%
GRR
AU$0.14
Grange Resources
7D
-6.5%
1Y
-19.4%
RHI
AU$4.79
Red Hill Minerals
7D
0.2%
1Y
52.1%