Australian steelmaker BlueScope Steel has announced that it expects its underlying earnings before interest and tax (EBIT) for the six months ending June 30 to be around $680 million. This is above the prior guidance of approximately $606 million.
According to BlueScope, the stronger performance has been driven mainly due to the stronger performance at its North Star mini-mill in Ohio on higher realized steel spreads and also the moderately better performance of its Australian Steel Products division, including higher margins on coke exports.