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Took some chips off the table at R132 last week when the steel price was firmer, but that 3% dip today has me sniffing around again since the P/E isn't looking stretched and the commodity cycle tends to recover like a dry season always breaks.
ACL up 0.76% today to R133, not a big jump but glad it's green. Steel prices must be doing something right I guess?
The modest 0.76% pop on ACL masks the real opportunity brewing beneath. With global steel spreads compressing and China's demand signals weakening, the market is pricing in a goldilocks scenario that ignores cyclical reality. I reckon we see ACL retest lower levels before the act
ACL down 1.49% today, eish, looks like the iron ore team is having an off day but these dips are where the smart money usually comes in.
ACL testing support at R130 on sector rotation flows rather than fundamental deterioration. My mechanical reversion signals don't trigger until we breach the R125 level, so this dip presents tactical accumulation for the mean reversion cycle.
Picked up more ACL at R135 today because the steel cycle typically rewards patience, and with iron ore stabilizing, the dividend yield starting to look decent again after that rough patch last year when I learned the hard way that commodity stocks punish impatience.
ACL sitting at R132 after that small dip today, but the real question is whether the steel cycle has legs given China's demand uncertainty. At current levels the dividend yield becomes interesting if they maintain production discipline, though I've been burnt before by commodity
ACL down 2.22% today but the real concern is structural. Steel demand remains under pressure from construction delays and manufacturing weakness across the region, while rand weakness is the only tailwind masking deteriorating operational metrics. I've trimmed my tiny JSE positio
ACL at R136 flat today is criminally undervalued given iron ore's strength. The market's sleeping on this, but fundamentals don't stay disconnected from price forever.
ACL sitting dead flat at R136 while global steel demand looks dodgy - are you holding for the dividend or bailing if it dips below R130?
ACL at R136 down 0.73% while Kumba Iron Ore sitting pretty. Steel demand stays weak but ACL's got better leverage to any upswing versus commodity miners.
ACL at R140 up 0.72% but that's peanuts when you look at where steel demand is heading. Need to see if they can actually hold these margins.