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.
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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. |
---|---|---|
$3.55 | 48783 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
18 | 154483 | 3.540 |
9 | 203214 | 3.530 |
10 | 118702 | 3.520 |
7 | 36289 | 3.510 |
36 | 89802 | 3.500 |
Price($) | Vol. | No. |
---|---|---|
3.550 | 48783 | 3 |
3.560 | 39632 | 3 |
3.570 | 242210 | 9 |
3.580 | 150412 | 6 |
3.590 | 28675 | 3 |
Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
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