Reportedly, Australian steelmaker BlueScope posted an AUD1.04 billion of net loss for the fiscal year of 2012.
BlueScope has reported AUD1.05 billion of loss for the fiscal of 2011 which has made the company slashed more than 1000 jobs and stop the export business.
The company believed it will post positive earnings in 2013 since the fiscal year of 2012 is the transforming year for the company.
Earlier this month, BlueScope has announced a US$1.36 billion joint venture with Japan's Nippon Steel for growth in new market and ease the loss especially coming from strong current.
The joint venture was held 50-50 by both companies, NS BlueScope Coated Products, which aiming the markets in Southeast Asia and North American for building products.