BSL Analysis: BlueScope Steel 1H FY2026 Trading Update

Published 18 Nov 2025 • 3 min • BSL

Event: BlueScope Steel 1H FY2026 Trading Update | Date: 2025-11-18 | Source: BlueScope Investor Relations

BlueScope Guides to Lower End of 1H FY2026 EBIT Amid Persistent Challenges

BlueScope Steel provided a trading update during its Annual General Meeting on November 18, 2025, indicating that underlying EBIT for the first half of FY2026 is expected to be at the lower end of the previously guided range of $550 million to $620 million. This comes after a challenging period marked by softer realised pricing in export markets and ongoing pressures in the North American coated products segment. The company highlighted mixed macroeconomic conditions, with some improvement in Australian domestic demand offset by weakness in North America and Asia. No changes were made to the full-year outlook, but the update underscores continued headwinds from steel spread compression and cost escalation. Source: BlueScope Investor Relations.