The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Lyndon Fagan - JPMorgan Chase & Co, Research Division - Analyst
: First question is just on the CapEx guidance. Just wondering what that looked like in a typical environment, i.e., how much have you actually cut
that down by and whether we need to think about some catch-up CapEx in future periods. That's the first one.
Question: Lyndon Fagan - JPMorgan Chase & Co, Research Division - Analyst
: Okay. And then another fairly quick one. Just on your coke sales, a pretty strong year at 785,000 tonnes. I noticed you guided to 650,000 to 700,000.
So -- and that's sort of a medium-term horizon, I guess. But was there anything particularly strong this year that sees that revert down? Or -- I'm
just trying to understand that a bit better.
Question: Lyndon Fagan - JPMorgan Chase & Co, Research Division - Analyst
: Great. And just a final one for me. I'm sure you've mentioned this previously, but in terms of the full exit of manufacturing in New Zealand, you are
able to give us an indication of how material that sort of cost would be?
Question: Peter Steyn - Macquarie Research - Analyst
: Just a quick question. Sorry, taking the supply/demand debate a little further in the U.S. Could you give us a sense of what the comparative supply
addition is by market? So really, what I'm trying to assess here is you're going to be more exposed to auto relative to some of the peers that are
bringing capacity on. So is that going to substantially revert your pricing position quite rapidly in the second half of this calendar year? So how do
you think about the balance of what's coming back in the market by market?
Question: Peter Steyn - Macquarie Research - Analyst
: And would it be fair to say that the new supply coming or the supply that's returning to the market is a lot more nonresidential building orientated
in general and maybe lower value fabrication?
Question: Peter Steyn - Macquarie Research - Analyst
: Perfect. And then I just wanted to, again, just talk about the Australian demand scenario because you guys had a very strong second half dispatch
out of the mill locally up almost 9%. And you mentioned TRUECORE up 10%. How are you thinking about the construction market as we roll forward
into the back half of this year in the context of, obviously, COVID sales disruptions but also construction rates seemingly holding relatively well?
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AUGUST 17, 2020 / NTS, BSL.AX - Full Year 2020 BlueScope Steel Ltd Earnings Presentation
And we've spoken about HomeBuilder response. But if you can just give us a sort of broad thought process of maybe the next 2 quarters of thinking
at this point in terms of what you can see in the market and then maybe just a little more about what's happening on TRUECORE in particular.
Question: Peter Steyn - Macquarie Research - Analyst
: I appreciate that. I wasn't so asking for specifics on guidance, but just your flavor of qualitative perspective, but that was great. I'll leave it there.
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