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Australian (ASX) Steel Industry Analysis

UpdatedAug 08, 2026
DataAggregated Company Financials
Companies35
  • 7D0.1%
  • 3M-8.5%
  • 1Y4.9%
  • YTDn/a

The Steel is pretty flat in the last 7 days, but BlueScope Steel has stood out, gaining 7.7%. The past year has been better, since the industry has gained 4.9% in that time. 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
Sat, 08 Aug 2026AU$85.5bAU$57.5bAU$4.8b13.2x17.9x1.5x
Mon, 06 Jul 2026AU$84.9bAU$57.9bAU$4.9b13.2x17.3x1.5x
Wed, 03 Jun 2026AU$98.5bAU$57.0bAU$4.8b13.2x20.7x1.7x
Fri, 01 May 2026AU$87.8bAU$57.0bAU$5.1b11.9x17.3x1.5x
Sun, 29 Mar 2026AU$88.6bAU$58.2bAU$5.3b11.8x16.7x1.5x
Tue, 24 Feb 2026AU$89.8bAU$56.2bAU$4.9b24.8x18.4x1.6x
Thu, 22 Jan 2026AU$99.7bAU$57.0bAU$4.8b35.7x20.8x1.7x
Sat, 20 Dec 2025AU$92.7bAU$57.7bAU$4.9b31.7x19x1.6x
Mon, 17 Nov 2025AU$85.9bAU$57.9bAU$4.9b27x17.4x1.5x
Wed, 15 Oct 2025AU$82.3bAU$58.5bAU$5.0b27.6x16.4x1.4x
Fri, 12 Sep 2025AU$79.5bAU$58.1bAU$5.0b14.1x15.9x1.4x
Sun, 10 Aug 2025AU$81.1bAU$60.7bAU$6.7b10.3x12.2x1.3x
Tue, 08 Jul 2025AU$73.1bAU$60.9bAU$6.7b10.1x10.8x1.2x
Thu, 05 Jun 2025AU$69.3bAU$61.0bAU$6.8b9x10.2x1.1x
Sat, 03 May 2025AU$73.0bAU$61.6bAU$6.9b8.3x10.5x1.2x
Mon, 31 Mar 2025AU$72.3bAU$62.3bAU$7.1b7.6x10.2x1.2x
Wed, 26 Feb 2025AU$80.1bAU$61.7bAU$7.2b8x11.1x1.3x
Fri, 24 Jan 2025AU$80.6bAU$66.5bAU$10.9b8.4x7.4x1.2x
Sun, 22 Dec 2024AU$79.4bAU$66.6bAU$10.9b8x7.3x1.2x
Tue, 19 Nov 2024AU$80.3bAU$65.4bAU$10.6b8.6x7.6x1.2x
Thu, 17 Oct 2024AU$89.9bAU$64.3bAU$10.4b8.4x8.6x1.4x
Sat, 14 Sep 2024AU$77.9bAU$64.7bAU$10.1b7.7x7.7x1.2x
Mon, 12 Aug 2024AU$82.6bAU$68.1bAU$11.2b7x7.4x1.2x
Wed, 10 Jul 2024AU$94.0bAU$67.1bAU$10.9b9.2x8.6x1.4x
Fri, 07 Jun 2024AU$101.1bAU$67.6bAU$11.1b11x9.1x1.5x
Sun, 05 May 2024AU$107.1bAU$68.1bAU$11.4b9x9.4x1.6x
Tue, 02 Apr 2024AU$108.1bAU$68.7bAU$11.6b8.9x9.3x1.6x
Thu, 29 Feb 2024AU$108.7bAU$68.5bAU$11.6b9.2x9.4x1.6x
Sat, 27 Jan 2024AU$120.0bAU$66.1bAU$10.5b10x11.5x1.8x
Mon, 25 Dec 2023AU$117.8bAU$65.0bAU$10.2b8.7x11.6x1.8x
Wed, 22 Nov 2023AU$107.5bAU$66.2bAU$10.5b8.8x10.3x1.6x
Fri, 20 Oct 2023AU$94.8bAU$67.8bAU$11.1b8.6x8.6x1.4x
Sun, 17 Sep 2023AU$94.0bAU$67.3bAU$10.9b9.5x8.6x1.4x
Tue, 15 Aug 2023AU$90.1bAU$68.4bAU$13.4b6.7x6.7x1.3x
Price to Earnings Ratio

6.7x


Total Market Cap: AU$90.1bTotal Earnings: AU$13.4bTotal Revenue: AU$68.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Steel Industry Price to Earnings3Y Average 12.1x202420252026
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 17.9x which is higher than its 3-year average PE of 12.1x.
  • 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 5.6% 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 Market3.35%
Materials7.65%
Metals and Mining7.58%
Steel0.099%
Gold17.10%
Silver12.06%
Copper10.89%
Precious Metals and Minerals10.25%
Diversified Metals and Mining6.04%
Aluminum-0.91%
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
BSL BlueScope SteelAU$35.237.7%
+AU$1.1b		48.5%PE53.7x
SGM SimsAU$26.774.6%
+AU$228.0m		82.0%PS0.7x
SMR Stanmore ResourcesAU$2.424.8%
+AU$99.2m		0.8%PS0.8x
CIA Champion IronAU$3.512.9%
+AU$56.0m		-16.4%PE18.8x
VSL Vulcan SteelAU$5.606.7%
+AU$51.3m		-8.3%PE66.3x

Latest News

CIA
AU$3.51
Champion Iron
7D
2.9%
1Y
-16.4%
Narrative Update • Aug 07

CIA: Future Returns Will Depend On Ramp Up And Cost Control

Analysts have trimmed their fair value estimate and reduced the implied price target for Champion Iron by about A$1.01, reflecting updated views on production ramp up, elevated cash costs and more cautious assumptions for pricing on higher grade iron ore products. Analyst Commentary Recent research updates on Champion Iron point to a more cautious stance from several bearish analysts, with a series of lowered price targets and at least one rating downgrade.
CRN
AU$0.18
Coronado Global Resources
7D
5.9%
1Y
-20.0%
VSL
AU$5.60
Vulcan Steel
7D
6.7%
1Y
-8.3%
FMG
AU$18.02
Fortescue
7D
-2.6%
1Y
-4.4%
Narrative Update • Aug 05

FMG: Green Mining Spend And Legal Claims Will Shape Future Returns

Analysts have trimmed their price expectations for Fortescue, with the updated fair value estimate moving from about A$18.65 to around A$17.85 as they factor in softer revenue growth assumptions, lower profit margins, a slightly higher discount rate and rising mine replacement and decarbonization spending that are seen as headwinds to cash flow. What’s in the News for Fortescue XCMG Group outlined three pathways for greener mining at the Boao Forum for Asia Perth Conference in July 2026 and confirmed China’s largest export order for green mining machinery with Fortescue, with electric equipment to be progressively deployed at Fortescue’s Pilbara operations to support its 2030 zero emissions target.
EMA
AU$0.04
Eminence Minerals
7D
-4.8%
1Y
-47.4%
GRR
AU$0.14
Grange Resources
7D
-3.6%
1Y
-30.8%
BIS
AU$5.30
Bisalloy Steel Group
7D
8.4%
1Y
32.2%
SGM
AU$26.77
Sims
7D
4.6%
1Y
82.0%
Narrative Update • Jul 28

SGM: FY26 Guidance Strength Will Likely Mask Overvaluation Risk

Analysts have lifted the Sims price target to A$31 from A$19, citing FY26 guidance that sits about 15% ahead of consensus at the midpoint and an associated 14% increase in their FY26 EBIT outlook. What's in the News for Sims No recent Sims specific news items were available from the provided sources as of 28 Jul 2026.
SMR
AU$2.42
Stanmore Resources
7D
4.8%
1Y
0.8%
Narrative Update • Jul 28

SMR: Potential Queensland Coal Acquisition Will Support A Bullish Long-Term Outlook

Analysts have raised their price target for Stanmore Resources from A$3.35 to A$3.90, citing updated assumptions for revenue growth, profit margins and a lower forecast P/E multiple. What’s in the News for Stanmore Resources No recent news stories for Stanmore Resources are available from the specified primary sources.
BSL
AU$35.23
BlueScope Steel
7D
7.7%
1Y
48.5%
Narrative Update • Jul 27

BSL: Steel Pricing Momentum And Solid Balance Sheet Will Shape Fair Outlook

Analysts have lifted the fair value estimate for BlueScope Steel from A$33.19 to A$34.38. They point to support from recent research that highlights positive steel pricing, spreads, earnings momentum, a strong balance sheet and improving free cash flow.
FEX
AU$0.27
Fenix Resources
7D
-1.9%
1Y
-11.7%
Narrative Update • Jul 21

FEX: Rising Production And Margin Assumptions Will Support A Higher Share Price

Analysts have reduced their fair value estimate for Fenix Resources from A$0.65 to A$0.54, citing updated assumptions for discount rates, revenue, profit margins and future P/E levels. What’s in the News for Fenix Resources Fenix Resources reported operating results for the June 2026 quarter and the fiscal year ended June 30, 2026.
MGX
AU$0.34
MGX Resources
7D
4.6%
1Y
-11.7%
BRL
AU$0.43
Bathurst Resources
7D
-3.3%
1Y
-45.6%
M4M
AU$0.0055
Macro Metals
7D
-8.3%
1Y
-21.4%