It's tricky as the resource sector is more cyclical than most.
In the down periods armageddon is forecast forever (think met coal from 2013-15), when the margins are high for a while its "stronger for longer"- till the next wave of expansions and projects kick in. Possibly the sector is a bit wiser now, certainly its hard to think of any standout projects as pretty much anything that could be built over the boom (good, indifferent or bad) was.
I like S32's exposure to Met Coal, Manganese and Alumina. Silver, Lead and Zinc are great to have.
Nickel is a wild card but not that important for South32.
Outside this portfolio Iron Ore is the one major commodity I think (unsuprisingly) is least sustainable as the margins are remarkable - but I could well be wrong on timing. Then again all good for now Iluka's MAC royalty
Elsewhere I think lithium will come and go the same way the uranium and rare earths bubbles did.
Think I will sit tight for six months then revisit.
AWC Rumours, page-24
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Last
$3.55 |
Change
-0.020(0.56%) |
Mkt cap ! $16.07B | |||
| Open | High | Low | Value | Volume |
| $3.59 | $3.61 | $3.54 | $39.89M | 11.17M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 22 | 336927 | $3.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.55 | 48783 | 3 |
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| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| S32 (ASX) Chart |