Australia's BlueScope Steel gains; Macquarie flags improving macro

BLUESCOPE STEEL

28/10/2025 23:46

** Shares of Australia's BlueScope Steel BSL.AX rise as much as 4% to A$23.28; their highest since late August

** Stock marks strongest intraday gain since July 2

** Analysts at Macquarie flag an improvement in the broader macro-environment for BSL; adds prices are ticking up in the U.S.

** Brokerage expects a 26% CAGR in EBIT to fiscal 2028, reflecting price recovery in fiscal 2026, growth investment and efficiency gains

** Maintains "Outperform" rating on stock; says improving Australian demand conditions and support for U.S. price outcomes remain key

     ** Stock up 24.5% YTD

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com))