OST is very sensitive to the IO spot price. In my view it is...

OST is very sensitive to the IO spot price. In my view it is "over sensitive" to this. The last time the IO price dropped below $130/T the sp dropped to low seventies. The IO price has again fallen below $135/T and again crash goes the sp.

I get that there is a fair load of debt and that large Steel business is borderline, so the company is very dependent on IO. But I still think the sp is oversensitive to IO price.

Therein lies both the opportunity and the risk in trading this stock. Who has a view on where the IO price is heading next?

FT