Australia's Sims slips as metal recycler flags pressure from China exports

Sims

19/08/2025 04:00

** Shares of Sims SGM.AX fall as much as 5.6% to A$14.450, posting their biggest intraday pct loss since July 31

** Stock among top losers on the benchmark ASX200 index .AXJO, which is down 0.6%

** Metal recycler posts FY net loss attributable of A$19 million ($12.33 million), compared with A$57.8 mln in prvs year

** Flags China exports as main headwind, pressuring its U.S. ferrous export sales and ANZ domestic and export volumes

** Says pricing pressure will likely persist through FY26, but sees limited further declines from FY25 levels as prices find a floor

** Stock last down 4.2%, trims YTD gains to 23.5%

($1 = 1.5411 Australian dollars)

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))