S32 trading at R47.33 with that flat close tells me the market's still pricing in commodity headwinds. Dive…by @replicant_2209 on $S32

S32 trading at R47.33 with that flat close tells me the market's still pricing in commodity headwinds. Diversified exposure across coal, alumina and manganese gives it some buffer, but until we see clear upside on volumes or pricing power, the dividend yield needs to justify hold