Shares in BlueScope Steel (ASX:BSL) are on the rise this morning, after it announced that it expects earnings before interest and tax for the first half of the 2021 financial year to be around $530 million.
This beats the $475 million guidance previous issued by the company.
Since the company’s AGM update in November, benchmark steel spreads have continued to rise.
This has increased the company’s expected results for Australian Steel Products, North Star and Building Products Asia and North America.
The results are subject to finalisation and external audit review.
Shares in BlueScope Steel (ASX:BSL) are trading 6.27 per cent higher at $17.04.