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Australian (ASX) Steel Industry Analysis

UpdatedMar 24, 2026
DataAggregated Company Financials
Companies36
  • 7D-2.0%
  • 3M-9.9%
  • 1Y14.9%
  • YTDn/a

Over the last 7 days, the Steel industry has dropped 2.0%, driven by Fortescue declining 1.3%. Meanwhile, Sims actually outperformed within the industry, gaining 8.7% in the last week. This takes the industry's 12 month performance to a gain of 15%. As for the next few years, earnings are forecast to decline by 1.7% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Mar 2026AU$84.8bAU$57.7bAU$5.2b11x16.3x1.5x
Thu, 19 Feb 2026AU$90.4bAU$56.2bAU$4.8b24.7x18.8x1.6x
Sat, 17 Jan 2026AU$100.8bAU$57.2bAU$4.8b35.6x20.9x1.8x
Mon, 15 Dec 2025AU$96.5bAU$57.5bAU$4.9b31.8x19.9x1.7x
Wed, 12 Nov 2025AU$84.9bAU$58.0bAU$4.9b26.6x17.2x1.5x
Fri, 10 Oct 2025AU$83.0bAU$58.2bAU$4.9b28.1x17.1x1.4x
Sun, 07 Sep 2025AU$80.6bAU$58.4bAU$5.0b14.2x16x1.4x
Tue, 05 Aug 2025AU$78.6bAU$60.9bAU$6.7b9.8x11.7x1.3x
Thu, 03 Jul 2025AU$71.4bAU$60.6bAU$6.7b9.4x10.7x1.2x
Sat, 31 May 2025AU$69.1bAU$61.3bAU$6.8b9x10.1x1.1x
Mon, 28 Apr 2025AU$69.3bAU$61.7bAU$7.0b8.3x9.9x1.1x
Wed, 26 Mar 2025AU$72.7bAU$62.1bAU$7.0b7.7x10.3x1.2x
Fri, 21 Feb 2025AU$81.2bAU$64.6bAU$10.1b6.7x8.1x1.3x
Sun, 19 Jan 2025AU$83.0bAU$66.9bAU$11.0b8.7x7.5x1.2x
Tue, 17 Dec 2024AU$82.0bAU$66.0bAU$10.7b8.4x7.6x1.2x
Thu, 14 Nov 2024AU$81.4bAU$65.0bAU$10.5b8.6x7.8x1.3x
Sat, 12 Oct 2024AU$86.4bAU$64.0bAU$10.3b8.4x8.4x1.3x
Mon, 09 Sep 2024AU$72.8bAU$64.8bAU$10.1b7.5x7.2x1.1x
Wed, 07 Aug 2024AU$82.5bAU$68.7bAU$11.4b8.1x7.3x1.2x
Fri, 05 Jul 2024AU$96.7bAU$67.1bAU$10.9b9.3x8.8x1.4x
Sun, 02 Jun 2024AU$103.2bAU$67.7bAU$11.1b11x9.3x1.5x
Tue, 30 Apr 2024AU$107.4bAU$68.4bAU$11.5b9x9.4x1.6x
Thu, 28 Mar 2024AU$105.7bAU$68.6bAU$11.6b8.8x9.1x1.5x
Sat, 24 Feb 2024AU$116.2bAU$68.6bAU$12.0b9.4x9.7x1.7x
Mon, 22 Jan 2024AU$115.3bAU$66.0bAU$10.5b9.5x11x1.7x
Wed, 20 Dec 2023AU$116.8bAU$65.3bAU$10.3b8.6x11.4x1.8x
Fri, 17 Nov 2023AU$106.4bAU$66.6bAU$10.6b8.8x10.1x1.6x
Sun, 15 Oct 2023AU$94.0bAU$67.9bAU$11.1b8.6x8.5x1.4x
Tue, 12 Sep 2023AU$88.7bAU$67.4bAU$10.9b10.2x8.1x1.3x
Thu, 10 Aug 2023AU$91.9bAU$67.6bAU$13.2b6.4x7x1.4x
Sat, 08 Jul 2023AU$92.8bAU$67.2bAU$13.3b5.9x7x1.4x
Mon, 05 Jun 2023AU$86.4bAU$67.6bAU$13.4b6.2x6.5x1.3x
Wed, 03 May 2023AU$92.4bAU$67.6bAU$13.6b6.4x6.8x1.4x
Fri, 31 Mar 2023AU$92.0bAU$63.3bAU$12.5b6.5x7.3x1.5x
Price to Earnings Ratio

7.3x


Total Market Cap: AU$92.0bTotal Earnings: AU$12.5bTotal Revenue: AU$63.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Steel Industry Price to Earnings3Y Average 10.7x202420252026
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 16.3x which is higher than its 3-year average PE of 10.7x.
  • 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 25% per year over the last three years,
  • Revenues have also declined 3.0% 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-2.75%
Materials-7.55%
Metals and Mining-7.81%
Steel-2.01%
Diversified Metals and Mining-6.17%
Aluminum-9.43%
Copper-11.32%
Precious Metals and Minerals-12.22%
Gold-14.96%
Silver-15.97%
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
SGM SimsAU$20.458.7%
+AU$315.0m		32.4%PS0.5x
BSL BlueScope SteelAU$27.091.8%
+AU$205.8m		19.3%PE41.3x
CIA Champion IronAU$5.077.6%
+AU$192.0m		-5.8%PE14x
SMR Stanmore ResourcesAU$2.751.1%
+AU$27.0m		25.6%PS0.9x
AKM Aspire MiningAU$0.268.5%
+AU$10.2m		2.0%PS3304.2x

Latest News

SGM
AU$20.45
Sims
7D
8.7%
1Y
32.4%
CIA
AU$5.07
Champion Iron
7D
7.6%
1Y
-5.8%

CIA: Higher C$7 Outlook Will Depend On Execution And Railway Reliability

Analysts have raised their price target on Champion Iron by A$1 to A$7, citing updated assumptions around discount rates, long term revenue growth, profit margins and the stock's forward P/E. Analyst Commentary The updated A$7 price target on Champion Iron reflects refreshed views on discount rates, long term revenue assumptions, profitability and the stock's forward P/E, but it does not remove all of the concerns that more cautious voices in the market continue to flag.
VSL
AU$5.55
Vulcan Steel
7D
-11.3%
1Y
-32.0%
CRN
AU$0.28
Coronado Global Resources
7D
-5.0%
1Y
-19.7%

CRN: Commodity Deck Refresh Will Support Future Earnings Power At Reasonable Pricing

Analyst price targets for Coronado Global Resources have shifted modestly, with moves such as a trim from A$0.40 to A$0.37 linked to updated commodity price decks. Some analysts have also become more positive on the shares following their latest review.
SMR
AU$2.75
Stanmore Resources
7D
1.1%
1Y
25.6%

SMR: Future Returns Will Rely On Stable Margins And Production Delivery

Analysts have modestly increased their A$ price target on Stanmore Resources, citing slightly revised assumptions for the discount rate, revenue growth, profit margin and future P/E multiples. What's in the News Stanmore Resources reported consolidated operating results for 2025, with saleable coal production of 14.0 Mt compared with 13.8 Mt a year earlier, and ROM coal mined of 20.5 Mt compared with 19.4 Mt a year earlier (Key Developments).
CKA
AU$0.069
Cokal
7D
13.1%
1Y
115.6%
BIS
AU$4.32
Bisalloy Steel Group
7D
0.7%
1Y
38.5%
BSL
AU$27.09
BlueScope Steel
7D
1.8%
1Y
19.3%

BSL: Takeover Bids And Special Dividend Will Support Future Upside Potential

Analysts have kept their A$31.36 price target for BlueScope Steel steady, with minor tweaks to inputs such as the discount rate and future P/E assumptions. This suggests a refined rather than a reworked view of the company’s outlook.
BRL
AU$0.54
Bathurst Resources
7D
-10.0%
1Y
-28.0%
FMG
AU$19.69
Fortescue
7D
-1.3%
1Y
22.4%

FMG: Sector Commodity Reset Will Shape Fair Value And Dividend Outlook

Analysts have trimmed their price target on Fortescue to A$17.20 from A$18.40, reflecting updated commodity price assumptions and a view that softer revenue growth and profit margins, together with a higher future P/E and discount rate, temper the upside case for the shares. Analyst Commentary Recent research updates on Fortescue point to a more cautious stance, with analysts recalibrating their views after revising long term commodity price assumptions and sector wide expectations for Australian metals and mining names.
DRR
AU$3.82
Deterra Royalties
7D
-3.5%
1Y
3.8%

DRR: Dividend And Royalty Volumes Will Support A Positive Forward Outlook

Analysts have made a small adjustment to their fair value estimate for Deterra Royalties to A$4.55. This reflects a slightly higher discount rate and P/E assumptions, along with marginal tweaks to revenue growth and profit margin expectations.
MGX
AU$0.36
MGX Resources
7D
-6.4%
1Y
10.6%
LCY
AU$0.007
Legacy Iron Ore
7D
-12.5%
1Y
-33.3%
AKM
AU$0.26
Aspire Mining
7D
8.5%
1Y
2.0%

We're Hopeful That Aspire Mining (ASX:AKM) Will Use Its Cash Wisely

Jan 09
We're Hopeful That Aspire Mining (ASX:AKM) Will Use Its Cash Wisely
RHI
AU$4.53
Red Hill Minerals
7D
-9.2%
1Y
40.7%
CZR
AU$0.27
CZR Resources
7D
1.9%
1Y
-11.5%