BlueScope Steel Market Analysis and Financial Overview

BlueScope Steel's Markets – Strong Demand • Long term customer relationships. External sales mix largely unchanged from 2002/03 by: Geographic region; and Australian market segments. Increased South East Asian despatches, largely driven by: Internal initiatives, eg: broadened product range, eg. PEBs and trusses; market development into Vietnam and China. Stronger economic growth. Increasing steel demand. Page 8

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