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Australian (ASX) Steel Industry Analysis

UpdatedApr 18, 2026
DataAggregated Company Financials
Companies36
  • 7D2.6%
  • 3M-8.8%
  • 1Y35.5%
  • YTDn/a

The Steel industry is up 1.1% in the last week, with Fortescue up 4.8%. Meanwhile, Stanmore Resources actually underperformed within the industry, shrinking 9.0% in the last week. This means that the industry has gained 35% over the past year. In the next few years earnings are forecast to be pretty stable.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Sun, 28 May 2023AU$86.0bAU$68.0bAU$13.6b6x6.3x1.3x
Tue, 25 Apr 2023AU$92.6bAU$67.4bAU$13.5b6.6x6.8x1.4x
Price to Earnings Ratio

6.8x


Total Market Cap: AU$92.6bTotal Earnings: AU$13.5bTotal Revenue: AU$67.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Steel Industry Price to Earnings3Y Average 10.9x202420252026
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 18.1x which is higher than its 3-year average PE of 10.9x.
  • 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 5.4% 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 Market0.26%
Materials2.11%
Metals and Mining2.37%
Steel2.59%
Silver5.75%
Precious Metals and Minerals4.44%
Copper4.41%
Diversified Metals and Mining3.65%
Gold-1.16%
Aluminum-1.37%
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$21.234.8%
+AU$3.0b		40.7%PE12.6x
BSL BlueScope SteelAU$28.590.1%
+AU$13.1m		32.3%PE43.6x
BIS Bisalloy Steel GroupAU$4.835.5%
+AU$12.0m		51.4%PE12x
MGX MGX ResourcesAU$0.412.5%
+AU$11.8m		32.3%PS1.5x
LCY Legacy Iron OreAU$0.00716.7%
+AU$9.8m		-30.0%PS1.2x

Latest News

LCY
AU$0.007
Legacy Iron Ore
7D
16.7%
1Y
-30.0%

Will Legacy Iron Ore (ASX:LCY) Spend Its Cash Wisely?

Apr 17
Will Legacy Iron Ore (ASX:LCY) Spend Its Cash Wisely?
BSL
AU$28.59
BlueScope Steel
7D
0.1%
1Y
32.3%

BSL: Takeover Talks And Cash Returns Will Support Balanced Future Prospects

Analysts have trimmed their price target on BlueScope Steel by A$0.45 to A$30.91, reflecting updated assumptions around discount rates, expectations of modest revenue growth, and slightly adjusted profit margin and P/E inputs. What's in the News BlueScope Steel declared an unfranked interim dividend of A$0.65 per share for the six months ended 31 December 2025, with an ex date of 20 February 2026, record date of 23 February 2026, and payment date of 24 March 2026 (company announcement).
BRL
AU$0.56
Bathurst Resources
7D
-4.3%
1Y
-26.3%
JAL
AU$0.053
Jameson Resources
7D
-33.8%
1Y
112.0%
SGM
AU$19.55
Sims
7D
-4.5%
1Y
39.5%

SGM: Lifecycle Services Strength And Dividend Outlook Will Support Future Upside

Analysts have lifted their price target for Sims to A$22.78 from A$22.61, citing recent upgrades and research that highlight stronger Sims Lifecycle Services earnings tied to higher chip prices, resale volumes, and hyperscaler service fees, along with updated assumptions on discount rates, revenue growth, profit margins, and future P/E. Analyst Commentary Bullish Takeaways Bullish analysts point to the upgrade in Sims Lifecycle Services EBITDA of 130% in the recent first half as a key support for higher earnings assumptions, particularly for the chip reuse and resale part of the business.
FEX
AU$0.33
Fenix Resources
7D
-2.9%
1Y
11.9%

FEX: Multi Year Iron Ore Sales Guidance Will Support Future Returns

Analysts have adjusted their price target on Fenix Resources to A$2.77. This reflects updated views on the discount rate, revenue growth, profit margin and future P/E assumptions.
CIA
AU$4.94
Champion Iron
7D
-5.5%
1Y
17.1%
VSL
AU$5.18
Vulcan Steel
7D
-8.3%
1Y
-30.8%

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.
FMG
AU$21.23
Fortescue
7D
4.8%
1Y
40.7%

FMG: Reset Commodity Deck And Record Shipments Will Steady Fair Value

Narrative Update The analyst price target for Fortescue has been trimmed by A$1.20 to A$17.20, with analysts pointing to updated long term commodity price assumptions across copper, aluminum, coal and gold as the key driver of the reset. Analyst Commentary Recent research highlights a more cautious stance on Fortescue, with price targets reset and ratings moved lower as analysts refresh longer term commodity assumptions.
CRN
AU$0.30
Coronado Global Resources
7D
-9.1%
1Y
27.7%

CRN: Refreshed Commodity Deck And Higher Future P/E Will Support Upside Potential

Analysts now frame Coronado Global Resources' outlook around a slightly lower A$0.37 price target from A$0.40, citing refreshed commodity price assumptions and mixed sentiment across recent research updates. Analyst Commentary Recent research shows a mix of optimism and caution around Coronado Global Resources, with the updated A$0.37 price target reflecting refreshed assumptions for key commodities including PLV met coal and benchmark Newcastle thermal coal.
SMR
AU$2.33
Stanmore Resources
7D
-9.0%
1Y
27.3%

SMR: Softer Revenue And Margins Will Shape A Balanced Future Outlook

Analysts have trimmed their price target for Stanmore Resources to A$2.70, reflecting updated assumptions that include a higher discount rate, a softer revenue outlook, slightly lower profit margins and a higher future P/E multiple. What's in the News Stanmore Resources reported consolidated operating results for 2025, with saleable coal production of 14.0 Mt and ROM coal mined of 20.5 Mt, providing investors with updated volume data for the year (Key Developments).
BIS
AU$4.83
Bisalloy Steel Group
7D
5.5%
1Y
51.4%
FRB
AU$0.22
Firebird Metals
7D
7.3%
1Y
158.8%
M4M
AU$0.007
Macro Metals
7D
27.3%
1Y
-36.4%
MGX
AU$0.41
MGX Resources
7D
2.5%
1Y
32.3%
TYX
AU$0.004
Tyranna Resources
7D
33.3%
1Y
-20.0%