ASX Materials Stocks News: Onesteel Ltd (OST)

ASX Materials Stocks News: Onesteel Ltd (OST)|OST SharesOnesteel Ltd (ASX:OST) is Australia’s premier manufacturer of steel and finished steel products and is also a leading metal distributor.

OneSteel revised downward its earnings guidance for the 1H12, saying it will provide a trading update at its Annual General Meeting (AGM) on the 21st of November 2011.

OST will revise down its earnings due to the collapse of iron ore prices, which are now around 30% below their the levels 3 weeks ago, and also the increase in the Australian dollar over the same period.

Receive FREE Trading Recommendations for the next 7 Days, Click Here!