BlueScope Steel (ASX:BSL) increases 2H FY2023 earnings guidance

Australian steelmaker BlueScope (ASX:BSL) has raised its 2H 2023 earnings guidance from $480M-$550M to $700M-770M due to a strong outlook for North Star, its US mini-mill, which is expected to deliver a result about 50% higher than 1H 2023.

BlueScope says other contributors include the North America coated products business and Australian Steel Products.

It also says its revised guidance is subject to spread, foreign exchange, and market conditions, and BlueScope's financial results for the year ending 30 June 2023 will be released on 21 August 2023.

BlueScope's share price is up 1.7% at 10:36pm AEST.