of BlueScope Steel Ltd slipped to an over three-month low as the ongoing United
Auto Workers (UAW) strike against the Detroit Three automakers in the United
States weighs on the Australian steel-maker's North American business.
BlueScope Steel shares fell as much as 3.8% to A$18.870, their lowest since
June 2, and are on track to log a sixth straight session of losses.
The company generated nearly 42% of its fiscal 2023 sales revenue of A$18.17
billion ($11.71 billion) from North America, with its low-cost, hot rolled coil
regional supplying business - North Star - bringing in A$3.38 billion. The
UAW's strike against General Motors, Ford and Stellantis entered its third day
on Sunday, with no immediate resolution on the horizon.