BlueScope Steel increases its earning guidance for 2H FY2022

BlueScope Steel Limited (ASX: BSL) announced that it is expecting its underlying EBIT for 2H FY2022 to be between AU$1.375 billion to AU$1.475 billion, which is more than its previous guidance range of AU$1.2 billion to AU$1.35 billion and is subject to spread, foreign exchange as well as market conditions.

With the constant rise in the prices of raw materials and continuous supply chain disruptions, BSL assumes its net working capital employed to remain elevated during the first half. The strong outlook is driven by enhanced earnings expectations for North America and coated business due to better than expected realised steel prices and spreads in the US.

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