Aussie steelmaker OneSteel Ltd
(ASX:OST) says its Whyalla blast furnace has returned to normal operations.
In April the company shutdown the blast furnace after encountering problems with an expansion joint and spent the next two months undertaking repairs on the operation.
OneSteel says it is continuing to work closely with its customers to minimise any impact in meeting customer demand.
The company says it has been able to ramp up production at its Electric Arc Furnaces, utilise its strong broad-based position in its supply chain, and selectively import a range of semi-finished and finished steel products to help minimise the impact of the interruptions on customers.
Also last month the company wrote to shareholders expressing its concern for the Federal Government’s Resources Super Profits Tax, saying the proposed tax would increase the cost of raw materials and therefore its steel making.
OneSteel says any tax change proposed by the Government should only apply to new investments, not existing ones, and not apply to resources consumer internally.
The steel maker says the tax will have a major and immediate effect on the competitiveness of its mining and steelmaking operations.
OneSteel’s net profit after tax for the year to June, 2009 came to $229.5 million.
