Subscribe to RSS feedBluescope to ramp up steel production
BlueScope Steel will restart its No.5 blast furnace at Port Kembla Steelworks next month after demand for steel improved and international prices for hot rolled coil increased.
BlueScope's No.5 and No.6 blast furnaces will operate at a combined capacity of at least 75% from September with scope for this to increase depending on demand.
In May, the company deferred plans to restart the No.5 furnace until market conditions improved.
"This decision has been made in light of the internationally competitive position of Port Kembla steelmaking and due to a combination of market factors, including an improvement in Australian domestic market volumes in May and June," the company said in a statement.
"In addition, demand to December 31 has increased from external customers in Asia and from the company's offshore affiliates in Asia and North America."
The No.6 blast furnace will continue to operate at full capacity until the No.5 furnace resumes production.
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