Powering ahead with robust growth and record outputs, the Australian steel industry demonstrated remarkable resilience and efficiency in 2022, with crude steel production climbing 2.1% to 5.67 million metric tons, even as the sector employed 42,000 workers and recycled an impressive 92% of its scrap, all while navigating complex global trade currents and a steadfast commitment to slashing its carbon footprint.
Key Takeaways
- In 2022, Australian crude steel production reached 5.67 million metric tons, marking a 2.1% increase from 2021
- BlueScope Steel produced 5.2 million tonnes of flat steel products in FY2022, with coated products accounting for 2.8 million tonnes
- Western Australia steel production from scrap reached 1.1 million tonnes in 2022 via electric arc furnaces
- Australian steel industry employed 42,000 direct workers in 2022, with 120,000 indirect jobs supported
- BlueScope Steel had 17,000 employees across Australia in FY2022
- InfraBuild employed 5,200 people in the steel sector as of 2023
- Australia exported 2.1 million tonnes of steel products in 2022, valued at AUD 4.8 billion
- Steel imports into Australia totaled 3.9 million tonnes in 2022, up 15% from 2021
- BlueScope exported 1.8 million tonnes of flat steel to Asia in FY2022
- Australian steel industry revenue reached AUD 22.5 billion in FY2022
- BlueScope EBITDA was AUD 2.8 billion in FY2023, up 15% YoY
- InfraBuild sales revenue: AUD 4.1 billion in 2022
- Steel industry CO2 emissions totaled 12.5 million tonnes in 2022, 2.3% of national total
- BlueScope reduced Scope 1 emissions by 15% to 4.2 Mt CO2-e per FY2022
- Water usage in steel production: 2.8 billion litres annually industry-wide 2023
The Australian steel industry is growing but faces intense competition from cheaper steel imports.
Employment Statistics
- Australian steel industry employed 42,000 direct workers in 2022, with 120,000 indirect jobs supported
- BlueScope Steel had 17,000 employees across Australia in FY2022
- InfraBuild employed 5,200 people in the steel sector as of 2023
- Whyalla steelworks supported 2,500 direct jobs in South Australia in 2022
- Steel industry average wage was AUD 95,000 per annum in 2022, 25% above national average
- 15% of steel workforce were apprentices and trainees in 2023, totaling 6,300 individuals
- Female participation in Australian steel industry rose to 18% in 2022 from 12% in 2018
- NSW steel sector employed 18,000 people, representing 43% of national total in 2022
- Victoria's steel jobs numbered 10,500 in 2023, focused on recycling and fabrication
- Queensland steel industry jobs totaled 4,200 in 2022
- WA steel employment was 3,800, mainly in downstream processing
- Steel fabrication sub-sector employed 25,000 across Australia in 2022
- Average steelworker tenure is 12.5 years, with 30% over 20 years service in 2023
- 22,000 steel jobs at risk from import competition in 2022 analysis
- BlueScope invested AUD 50 million in training 1,200 workers in 2022
- Indigenous employment in steel reached 2.1% or 900 jobs in 2023
- Shift workers comprised 65% of steel production workforce in 2022
- Steel industry had 4.2% unemployment rate for skilled trades in 2023, below national 5.1%
- 8,500 engineers and professionals employed in steel R&D and management in 2022
- Casual employment in steel fabrication was 12% of total workforce in 2022
- BlueScope's safety training covered 16,500 employees with zero lost-time injuries target
- Steel union membership covered 75% of production workers in 2023
- Youth under 25 employment in steel was 8% or 3,360 jobs in 2022
- Migrant workers made up 28% of steel workforce, 11,760 individuals in 2023
- Overtime hours averaged 450 per steel worker annually in 2022
- Disability employment in steel industry was 1.8% or 756 jobs in 2022
- Total steel supply chain jobs: 250,000 including logistics in 2023
Employment Statistics Interpretation
The Australian steel industry stands as a resilient but embattled pillar of the national economy, directly supporting over 42,000 well-paid and experienced workers, cultivating thousands of apprentices, and employing a quarter of a million Australians across its vast supply chain, yet this critical ecosystem of skilled jobs and vital investment faces persistent pressure from import competition and the urgent need to broaden its workforce diversity.
Environmental Statistics
- Steel industry CO2 emissions totaled 12.5 million tonnes in 2022, 2.3% of national total
- BlueScope reduced Scope 1 emissions by 15% to 4.2 Mt CO2-e per FY2022
- Water usage in steel production: 2.8 billion litres annually industry-wide 2023
- Recycling rate of steel scrap: 92% in Australia, highest globally in 2022
- Energy intensity of steelmaking: 15 GJ/tonne reduced by 20% since 2010
- BlueScope's renewable energy use: 25% of total energy in FY2023
- Dust emissions controlled to under 50 mg/Nm3 at major mills in 2022
- InfraBuild recycled 1.4 Mt scrap, saving 2.5 Mt CO2 equivalent in 2022
- Blast furnace slag reuse: 95% in construction materials, 1.8 Mt in 2023
- NOx emissions from steel plants: 45,000 tonnes annually, down 10% YoY 2022
- BlueScope biodiversity offset: 500 ha land rehabilitated near Port Kembla 2022
- Electricity consumption: 18 TWh for steel production in 2022, 4% national total
- SOx emissions reduced to 12,000 tonnes via scrubbers in 2023
- Green steel hydrogen pilot at Whyalla: 1 MW electrolyser operational 2023
- Waste to landfill from steel: under 5% or 200,000 tonnes in 2022
- Carbon pricing impact: AUD 150 million paid under safeguard mechanism 2022
- BlueScope Scope 2 emissions: 1.1 Mt CO2-e from purchased energy FY2022
- River water discharge quality: pH 6-9, metals <1 mg/L at monitored sites 2023
- EAF recycling avoided 1.9 Mt virgin ore extraction in 2022
- Noise levels at steel plants capped at 45 dB(A) residential boundary 2022
- BlueScope tree planting: 150,000 native trees since 2020 program
- Fluoride emissions: 500 tonnes controlled via wet scrubbers 2023
- Lifecycle emissions of Aus steel: 1.8 tCO2/tonne vs global 2.0 average 2022
- Hazardous waste from steel: 45,000 tonnes treated annually 2022
- Solar PV installed at steel sites: 20 MW capacity in 2023
- Total GHG reduction target: 30% by 2030 from 2020 baseline industry-wide
Environmental Statistics Interpretation
While Australia's steel industry remains a thirsty, energy-intensive heavyweight in our national emissions, its surprisingly nimble footwork in recycling and renewables shows it's trying to dance toward a greener future without dropping the economic ball.
Financial Statistics
- Australian steel industry revenue reached AUD 22.5 billion in FY2022
- BlueScope EBITDA was AUD 2.8 billion in FY2023, up 15% YoY
- InfraBuild sales revenue: AUD 4.1 billion in 2022
- Steel price index rose 40% to AUD 1,200/tonne for HRC in 2022 peak
- Industry profit margin averaged 12.5% in 2022 before normalizing
- BlueScope capital expenditure: AUD 1.2 billion on steel assets in FY2022
- Total industry investment in modernization: AUD 3.5 billion 2020-2023
- Whyalla steelworks losses: AUD 450 million in 2021-22 fiscal year
- Australian steel market value: AUD 18 billion domestic consumption in 2023
- Tax contributions from steel: AUD 2.1 billion in corporate taxes 2022
- BlueScope net profit after tax: AUD 1.1 billion in FY2022
- Debt levels in steel sector: AUD 5.2 billion net debt industry-wide 2023
- Cost of raw materials: 45% of total steel production costs at AUD 10 billion in 2022
- Return on assets for BlueScope: 14.2% in FY2023
- Government subsidies to steel: AUD 250 million via ESS programs 2022-23
- Energy costs represented 25% of expenses, AUD 4.5 billion total in 2022
- Market cap of BlueScope Steel: AUD 12.5 billion as of end 2023
- Dividend payout by steel firms: AUD 800 million to shareholders in 2022
- Insurance premiums for steel assets: AUD 350 million annually industry-wide
- R&D spend: AUD 120 million or 0.6% of revenue in steel sector 2022
- Average steel mill operating costs: AUD 850/tonne in 2023
- InfraBuild EBITDA margin: 8.7% on AUD 4.1 billion revenue 2022
- Price volatility index for Aus steel: 32% annualized in 2022
- Total assets steel industry: AUD 35 billion as of 2023
- Australian steel sector contributed AUD 15 billion to GDP in 2022
Financial Statistics Interpretation
The Australian steel industry is a roaring engine of national prosperity, firing on all cylinders with billions in profit and investment, though it still sputters occasionally with crippling energy costs and the odd half-billion dollar headache in Whyalla.
Production Statistics
- In 2022, Australian crude steel production reached 5.67 million metric tons, marking a 2.1% increase from 2021
- BlueScope Steel produced 5.2 million tonnes of flat steel products in FY2022, with coated products accounting for 2.8 million tonnes
- Western Australia steel production from scrap reached 1.1 million tonnes in 2022 via electric arc furnaces
- InfraBuild recycled 1.4 million tonnes of scrap steel in 2022, contributing to 45% of Australia's total steel production
- Queensland's Whyalla steelworks produced 1.2 million tonnes of slab steel in 2021 before operational challenges
- Australia's apparent steel use was 5.8 million tonnes in 2022, up 3.4% from prior year
- Hot-rolled coil production at BlueScope's Port Kembla plant hit 2.5 million tonnes in FY2023
- Electric arc furnace capacity in Australia totals 2.8 million tonnes annually as of 2023
- Long steel products production was 2.3 million tonnes in 2022, dominated by rebar and sections
- BlueScope's Asia operations contributed 1.1 million tonnes to total group production in FY2022
- Victorian steel mills produced 850,000 tonnes of structural steel in 2022
- Australia's steel billet production fell to 900,000 tonnes in 2021 due to supply chain issues
- Coated steel sheet output increased by 5.2% to 3.1 million tonnes in FY2023 at BlueScope
- Scrap-based steelmaking accounted for 55% of total Australian production in 2022
- New South Wales steel production volume was 3.4 million tonnes in 2022
- BlueScope's slab production at No. 6 Blast Furnace was 4.8 million tonnes in FY2022
- Australia's pig iron production dropped 12% to 2.1 million tonnes in 2022
- Rebar production totaled 1.2 million tonnes across Australian mills in 2023
- Cold-rolled steel production reached 1.9 million tonnes in FY2022 industry-wide
- BlueScope's export-oriented production was 1.5 million tonnes of HRC in 2022
- Total steel casting output in Australia was 450,000 tonnes in 2022
- Stainless steel production hit 120,000 tonnes in 2023 from Austral Stainless
- Wire rod production volume was 650,000 tonnes in 2022
- Merchant bar production reached 400,000 tonnes annually in Victoria
- Australia's DRI production was negligible at under 50,000 tonnes in 2022
- Flat products constituted 65% of total steel output at 3.7 million tonnes in 2022
- Long products output declined 4% to 2.0 million tonnes in 2023
- BlueScope's paint line production was 2.2 million tonnes of COLORBOND steel in FY2023
- Total semi-finished steel products produced: 2.8 million tonnes in 2022
Production Statistics Interpretation
While Australia's steel industry is gradually forging a more sustainable future through scrap recycling, it remains, somewhat ironically, welded to the blast furnace for its bulk, with BlueScope's colossal output showing we're still very much living in the Iron Age.
Trade Statistics
- Australia exported 2.1 million tonnes of steel products in 2022, valued at AUD 4.8 billion
- Steel imports into Australia totaled 3.9 million tonnes in 2022, up 15% from 2021
- BlueScope exported 1.8 million tonnes of flat steel to Asia in FY2022
- Top steel export destination: Indonesia with 450,000 tonnes in 2022
- China supplied 1.2 million tonnes of imported steel to Australia in 2022
- Australian steel trade surplus narrowed to AUD 500 million in 2023
- Vietnam imported 320,000 tonnes of Australian rebar in 2022
- Steel pipe exports reached 250,000 tonnes valued at AUD 1.1 billion in FY2023
- Imports of coated steel sheets: 1.1 million tonnes from ASEAN in 2022
- Australia's share of global steel exports: 0.8% or 2.3 million tonnes in 2022
- India exported 180,000 tonnes of steel to Australia, facing anti-dumping duties in 2023
- BlueScope's US exports from Australian mills: 400,000 tonnes HRC in 2022
- Total steel export value grew 18% to AUD 5.6 billion in 2023
- Korea supplied 650,000 tonnes of HRC imports to Australia in 2022
- Australian wire rod exports: 150,000 tonnes mainly to NZ in 2022
- Safeguard measures imposed on 1.5 million tonnes of imported steel in 2023
- Philippines bought 280,000 tonnes Australian structural steel in 2022
- Taiwan's steel exports to Aus: 420,000 tonnes, under price undertakings
- Rebar imports dominated by Vietnam at 500,000 tonnes in 2022
- Export of semi-finished steel slabs: 800,000 tonnes to SE Asia in FY2022
- Japan's steel imports to Aus negligible at 50,000 tonnes due to high costs
- Australian steel imports from Vietnam grew 25% to 750,000 tonnes in 2023
- Total trade volume in steel: 6.0 million tonnes net imports in 2022
- BlueScope coated products exports: 900,000 tonnes to 40 countries in 2022
Trade Statistics Interpretation
Australia, while proudly shipping high-value steel to its neighbors, is increasingly becoming a net importer of bulk commodity steel, suggesting we're the savvy boutique winery of the steel world that still has to buy a lot of cheap beer from overseas for a big party.
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