Australian steelmaker BlueScope Steel has posted a net loss of AU$12 million in the first six months ended December 31 of the financial year 2012-13, down from a net loss of AU$530 million in the first half of the previous financial year due to the operational benefit of the company's Australian restructure with lower loss-making export tonnages.
When the same periods are compared, BlueScope's sales revenues decreased by 17 percent to AU$3.7 billion due to lower sales volume arising from the 2011 restructure to reduce loss-making export sales. The company produced 2.15 million mt of crude steel in the given period, down 19 percent year on year.
According to BlueScope, almost all the regulatory approvals required for its coated products joint venture with Japanese steelmaker Nippon Steel have been obtained and the transaction is expected to be completed by the end of March this year.
