S32 +0.86%: Delivered a reasonably strong December Quarter production report this morning while they maintained prior guidance for FY25 (ex Mozal). Sales of aluminium were higher and they did increase cost guidance for 1H FY25 given the impact of higher raw materials in the aluminium value chain but they also said that 2H25 costs will moderate.
- All up, solid production offset by higher costs so a net neutral update today.
MM is neutral/bullish S32
Add To Hit List
