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Bluescope Steel ( (AU:BSL) ) just unveiled an update.
BlueScope has exchanged contracts with one of Australia’s largest home builders to sell 33 hectares of residentially zoned land in West Dapto for $76 million, with settlement now expected in the second half of FY2026 rather than the first half previously indicated. The agreed price, above recent comparable transactions at over $200 per square metre, is not expected to materially affect the company’s reaffirmed first-half FY2026 earnings guidance thanks to continued strong operating performance, while the development is set to deliver more than 350 residential lots in the Illawarra and prominently showcase BlueScope’s premium steel products. Management says the transaction underscores the significant latent value in BlueScope’s wider non-operational land bank and its ability to unlock it, a message reinforced by the recent rezoning of 200 hectares of non-operational land next to the Port Kembla Steelworks to a more flexible Special Purpose category, paving the way for a broader range of commercial and industrial developments and faster approvals, with implications for future monetisation and strategic positioning around Port Kembla.
The most recent analyst rating on (AU:BSL) stock is a Buy with a A$27.50 price target. To see the full list of analyst forecasts on Bluescope Steel stock, see the AU:BSL Stock Forecast page.
More about Bluescope Steel
BlueScope Steel Limited is an Australian steelmaker with operations focused on producing and marketing premium coated and painted steel products such as COLORBOND roofing and TRUECORE steel framing. The company also manages a substantial non-operational land portfolio of more than 1,200 hectares, which it is progressively monetising while supporting regional development and expanding the use of its steel products in residential and commercial construction markets.
YTD Price Performance: 31.79%
Average Trading Volume: 3,127,657
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$10.52B
Learn more about BSL stock on TipRanks’ Stock Analysis page.