Will BlueScope muscle in on South32’s deal?
The steelmaker is the major customer for the high-quality coking coal from the mine, and under its current contract, it has a first right of refusal should the mine be put up for sale.
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Bluescope Steel Limited
Since 1915 the steel industry has been an essential part of Australia and its economy. BlueScope’s heritage traces back to the very beginning.
Today, the future lies in selling innovation, technology and expertise in growth markets.
BlueScope has built a strong foundation for growth, with a diverse portfolio of businesses in some of the fastest growing economies of the world, and a strong balance sheet, which enables strategic flexibility.
Our track record of successful global partnerships enables us to prosper in widely diverse markets. In India, we have established a joint venture with the highly respected Tata conglomerate, and our joint venture with Nippon Steel – BlueScope Coated Products – is opening exciting new markets and opportunities in Asia.
Equally important are our successful partnerships with our customers. Many of our customers are Fortune 500 companies, and we can help them realise significant savings in the total cost of their buildings by reducing construction schedules.
Our global networks are another great BlueScope strength, with more than 100 facilities in 18 countries, employing around 14,000 people serving thousands of customers.
Our strong partnerships and networks are built on BlueScope’s great product brands, such as COLORBOND®, Clean COLORBOND® and ZINCALUME® steels, LYSAGHT® steel building products, and Butler® and Varco Pruden® engineered buildings.
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News
BlueScope Steel reports 27% fall in first-half profit amidst market volatility
As expected, steelmaker BlueScope Steel (ASX:BSL) experienced a 27% decline in first-half profit due to volatile market conditions, sluggish economic growth, and high inflation and interest rates.
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BlueScope Steel anticipates strong December half-year results
BlueScope Steel (ASX:BSL) has announced that its December half-year results are expected to surpass the company's earlier forecasts, as outlined in its October 20 guidance.
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BlueScope Steel downgrades 1st half earnings amidst softening demand
BlueScope Steel (ASX:BSL) has, at long last, downgraded first-half earnings, weeks after US-based steel rivals revealed cuts to their forecasts and actuals due to weakening margins and spreads as demand softens.
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BlueScope’s reserved response to $57.5 million fine
BlueScope's concise statement regarding its $57.5 million Federal Court fine raises eyebrows.
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Analyst Views
BSL – Citi rates the stock as Buy
Buy retained. But Citi has lowered its target PE multiple to 17x from 20x, which leads to a target price decrease to $25.50 from $27.50.
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BSL – Credit Suisse rates the stock as Neutral
Target rises to $26.00 from $25.20, Neutral retained.
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BSL – Credit Suisse rates the stock as Outperform
Outperform retained. Target rises to $22.50 from $20.
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BSL – Macquarie rates the stock as Outperform
Outperform retained. Target is raised to $23.50 from $21.65.
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