Australia's BlueScope Steel rises on hopes of Trump tariffs boosting its US ops
ReutersFeb 10, 2025 1:09 AM
Feb 10 (Reuters) - Shares of BlueScope Steel BSL.AX hit a two-month high on Monday after U.S. President Donald Trump said he will announce 25% tariffs on all steel and aluminum imports, which could benefit the Australian steelmaker's U.S operations.
The stock rose as much as 4%, as of 0057 GMT, to its highest level since December 2. It was among the top gainers on benchmark the S&P/ASX 200 index .AXJO, which was down 0.3%.
Jefferies analysts said protectionism on the U.S. steel industry should provide a tailwind for the prices of hot-rolled coil, a type of steel, and is positive for BlueScope.
North America forms BlueScope's biggest revenue-generating geography, having accounted for about 43.9% of its total sales in fiscal 2024.
Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.
Related Articles
Tesla Stock Outlook: Competing With Rivian, Robotaxi Potential, and 2026 Prospects
There is much conversation about the prospect of investing in Tesla (TSLA) as we move closer to 2026. The volatility of its share price in 2025 is leading many investors to consider if they should purchase shares of Tesla given the alternatives available in terms of electric vehicles (Rivian, etc.).TradingKey
9 hours ago
Why Sanae Takaichi Winning Japan’s Diet Election Led to a Surge in Japanese Stock Indices？
TradingKey - Reports indicate that the ruling coalition led by Japanese Prime Minister Sanae Takaichi has secured a single-party majority in the parliamentary elections held on Sunday (February 8). Following the news, the yen weakened slightly, while the Nikkei Index surpassed 57,000 for the first tTradingKey
10 hours ago
A Crash After a Surge: Why Silver Lost 40% in a Week?
TradingKey - Spot silver (XAGUSD) prices continue to decline. Silver plunged 20% on Thursday, breaking below $71 per ounce, with the sell-off intensifying on Friday as prices fell further below $64. Compared to the all-time high set on January 29, silver prices have retraced more than 40%, wiping out nearly all gains accumulated over the previous month.TradingKey
Fri, Feb 6
Is Bitcoin’s Four-Year Cycle Dead in 2026?
Is the Bitcoin 4-year cycle dead? After 2025 broke historical records with a red post-halving year, institutional analysts explore if the Bitcoin price has decoupled from the halving countdown. Analyze the impact of spot ETFs, global liquidity, and the roadmap to the 2028 halving in this 2026 marketTradingKey
Wed, Feb 4
