Domestic steel manufacturing in Australia has no long term future, according to an analyst report that describes the closure of BlueScope’s Port Kembla steelworks was a matter of ‘not if but when.’

In a research note to clients following reports that BlueScope could exit steel manufacturing over the next few years, Credit Suisse analyst Michael Slifirski has described the closure of the plant as being a foregone conclusion, and has told clients in a research note that the future of the local…