"OneSteel has forecast a soft outlook for the first half after posting underlying full-year profit down 2.5 per cent, with pressure from a strong Australian dollar crimping steel margins and volumes."
Once again nothing to do with a carbon tax, which will have minimal effect on companies profits.
Heres more:
"Australia's second-largest steelmaker said today it has started a review of its product portfolio and managing director and chief executive Geoff Plummer said further job cuts were likely.
"Given our concern about the Australian market for steel and the weak outlook for domestic construction we will have to be looking at further reductions, unfortunately," he told a media call."
Note: weak outlook for domestic construction.
Read the article more carefully before jumping to conclusions.
