North Star BlueScope Production Up in FY2013

Australian company BlueScope Steel announced EBIT of $66.7 million for its 50 percent ownership of U.S. based North Star BlueScope Steel for FY 2013 ending on June 30, 2013.  Earnings for the fiscal year improved by 7 percent over FY 2012 due to improved cost control and decreased depreciation charges that offset slightly weaker spreads.  Spreads were affected by lower selling prices partially offset by lower scrap costs.

Raw steel production totaled for FY2013 totaled 1,008,700 tonnes (1,111,883  tons) compared to 985,100 tonnes (1,056,107) in FY2012.  Steel shipments (all domestic) increased 2.0 percent to 983,200 tonnes (1,083,774 tons) from 962,800 tonnes (1,061,287 tons) in FY 2012. In the second half of FY 2013, 512,500 tonnes (564,925 tons) of raw steel was produced resulting in shipment of 507,100 tonnes (558,972 tons).