Steel Mills
April 27, 2021
BlueScope Raises Guidance
Written by Sandy Williams
Australian steel producer BlueScope has raised its earnings guidance for 2H FY2021 to an earnings range between AUD $1 billion and $1.8 billion from the previous range of $750 million to $830 million. The boost in earnings is due in large part to the performance of North Star BlueScope, the company’s U.S. division in Ohio.
HRC prices have skyrocketed since the original outlook was published in February and are now more than $250 per metric ton higher, resulting in stronger spreads benefiting North Star’s specific sales mix. BlueScope added that the expansion at North Star remains on track for commissioning during the second half of FY 2022.
