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Higher Prices, Better Demand Lift North Star BlueScope Sales
02/26/2018 - Midwestern U.S. sheet manufacturer North Star BlueScope Steel saw its first-half sales rise 8% on higher steel prices, healthy demand for auto and construction steels, and rising demand in the energy sector.
According to North Star’s Australian parent, BlueScope Steel Ltd., sales rose from AU$793.9 million during the first six months of fiscal 2017 to AU$860.6 million during the first half of fiscal 2018.
“Service center inventory levels being maintained at the low end of normal has meant more consistent purchasing patterns. A decline in imports driven by improving world prices as well as uncertainty around potential Section 232 U.S. trade actions has reduced foreign supply,” the company said in a statement.
During the half, shipments rose about 2% to 1.04 million metric tons. The company said raw steel production rose by 25,000 metric tons during the same period as it chases incremental increases through improving caster speeds and making enhancements to the hot strip mill edger.
“Service center inventory levels being maintained at the low end of normal has meant more consistent purchasing patterns. A decline in imports driven by improving world prices as well as uncertainty around potential Section 232 U.S. trade actions has reduced foreign supply,” the company said in a statement.
During the half, shipments rose about 2% to 1.04 million metric tons. The company said raw steel production rose by 25,000 metric tons during the same period as it chases incremental increases through improving caster speeds and making enhancements to the hot strip mill edger.
