OneSteel (OST) Update

OneSteel (OST) has a reiterated Outperform recommendation and a 12 month share price target of $7.20 from Australian stockmarket analyst Macquarie Research Equities. They believe OneSteel (OST) remains a "solid story", with the iron ore business offering further potential and upside risk to current pricing assumptions. The key message is that the analysts' commodities team is more bullish on the bulk commodities market and the steel market. Demand in the Asian region and China in particular continues to fuel further pricing growth. The big changes for the analysts relate to the coking coal price and the iron ore price. Both have increased and this has both positive and negative impacts for OneSteel. OST sells iron ore into the Chinese market place so the increase is positive but it is also a large consumer of coking coal in the Whyalla blast furnace. Steel price increases also have a negative impact. The net result of these changes is fairly neutral for earnings but positive for longer-term valuations. OneSteel (OST)here. OST was listed on the ASX on 23 October, 2000. The company is Australia's largest manufacturer and distributor of structural rail, rod, merchant bar, reinforcing wire, tube and pipeline steel products. Peter Smedley is the Chairman and Geoffrey Plummer is the Managing Director and CEO of OneSteel. Find out the meaning of the recommendations in this primer. Browse for other stockbroker recommendations. You can use Instalment Warrants to trade OST. Check your charts and good luck with your share trading!