could read as the whole china slowdown hitting demand for beverage can stock pretty hard, rand weakness onl…by @julianreins_jse on $HLM

could read as the whole china slowdown hitting demand for beverage can stock pretty hard, rand weakness only helps so much when your input costs are also climbing. haven't seen the latest capex guidance but if they're not reinvesting in efficiency gains this could get messy relative to peers like novelis. R1.62 looks cheap on paper but need to see if the margin compression is temporary or structural.