News Room - Steel Industry

Posted on 19 Aug 2008

BlueScope steel posts 27% rise in annual profits

According to today’s report, Australia’s biggest steelmaker, BlueScope Steel Ltd, posted a 27 percent up in full-year underlying profit on strong domestic demand and higher steel price. 

The net profit before one-offs increased to A$816 million from A$643 million. But net profit was down to A$596 million, down from A$686 million in the previous year.

As demand increased especially in infrastructure and building sectors, BlueScope also raised its steel price by 5 to 35 percent in recent months. But raw material also hiked around 200 percent for coking coal and up to 95 percent percent for iron ore compared to last year.