BlueScope lowers profit predictions due to global steel slowdown

Australia’s BlueScope Steel has lowered its earnings guidance due to challenging conditions in the global steel industry.

The steelmaker said on Tuesday that it expects its earnings before interest and tax (EBIT) for the first half of its fiscal 2025 to be between $270 million Australian and $310 million Australian (US$177 million and US$203 million). That’s down from the previous guidance range of A$350 million to A$420 million.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held various editorial positions with steel industry publications, associations, and mills since 2007. She joined the SMU team in 2022. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania.

Laura Miller

Latest in Market Segment

Price on Trade: Milwaukee Framework is a step forward on steel excess capacity

Nucor hikes tubular product prices

Great Lakes iron ore shipments fall in September

Commerce finds sizable dumping margins in plate sunset review

Algoma sees loss, shipments down 20% as second EAF nears first heat