This entire market is made to test our patience at the moment.
The fundamentals for OST will bare fruit and I personally don't think that the technicals are that bad either.
Aside from the overall market sentiment and the situation in the EU, I believe that there are three issues that may have a ramification.
1. Carbon Tax - We're paying it, but we are being compensated. Question is the net effect upon EBIT.
2. MRRT - What are we up for, if any at all.
3. A positive EBIT from the steel making division.
I tend to believe that the third point is the most relevant. If the business can demonstrate the turn around in that division in the 2nd half then the picture looks much rosier.
Time will tell if I'm making any sense.
Cheers Mo
OST Price at posting:
80.5¢ Sentiment: None Disclosure: Held
