SOURCE: Industrial Info Resources

Industrial Info Resources

August 26, 2011 06:30 ET

Australia's Steel Manufacturing Industry Feels the Pinch, an Industrial Info News Alert

PERTH, AUSTRALIA--(Marketwire - Aug 26, 2011) - Researched by Industrial Info Resources (Perth, Australia) -- Australia has never possessed an exceptionally large steel manufacturing industry, but the industry that it does have could be going slowly out of business. In the past few weeks, both of Australia's steel producers, Bluescope Steel Limited (ASX:BSL) (Melbourne, Australia) and OneSteel Limited (ASX:OST) (Sydney, Australia), have announced very weak yearly results, with Bluescope Steel reporting a US$940.85 million year-over-year loss and OneSteel reporting a $193.4 million year-over-year loss from its steel segment.

Other companies featured: BHP Billiton (NYSE:BHP)

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