BHP Steel will see its revenue dip this fiscal year, though earnings will recover in the company's first year as a separate listed entity, predicted parent company BHP Billiton. In the current 2001-2002 fiscal year, BHP Steel's projected revenue will be 4.49bn Australia dollars, down from 4.94bn Australia dollars in 2000-2001. The company will be spun off by June 30, the end of fiscal 2001-2002, and revenue will rise to 4.91bn Australia dollars in2002-2003, said BHP Billiton. Among the assumptions in BHP Billiton's forecast are projections that the fob price for hot rolled coil exported by BHP Steel will average 203 US dollars a tonne in 2001-2002, down from 230 US dollars in 2000-2001. However, the average will rise to 232 US dollars in 2002-2003. The revenue projections are also based on forecast slab exports to the USA of 350,000 tonnes, exempt from the 30 percent tariff introduced by the USA in March.
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