CEO of BlueScope Steel sees continuation of strong steel prices
According to Kirby Adams, CEO of
Australia's biggest steel producer, BlueScope Steel, strong global steel demand and steel prices will continue through the end of this year and through fiscal year 2005, and the company is considering acquisitions to help increase the steelmaker's capacity.
Adams added that the company's facilities are operating at full capacity and cannot meet the demand for its products.
BlueScope is the largest supplier of flat steel products in
Australia and
New Zealand.
Back in August, BlueScope announced that it was not in negotiations with Ohio, US-based Cargill Inc. about buying the 50% stake in the North Star steel joint venture which BlueScope and Cargill share. However, according to recent news in the market, now that Cargill sold steel assets totalling $266 million to Brazilian steel producer Gerdau, BlueScope would be willing to renegotiate with Cargill about a possible acquisition of the remaining shares.