The local bourse ended the session just shy of a new all-time high,as surprisingly strong data out of China helped drive gains.
Australia's biggest steelmaker has repeated warnings that weaker prices in key markets like the US and Australia will knock a sizeable hole in its earnings.
Jason Ellis,48,is charged with two counts of inciting the obstruction of a Commonwealth official over a probe into alleged cartel conduct by BlueScope.
Jason Ellis faces up to two years in jail if convicted of the two charges that relate to a cartel investigation by the ACCC.
Despite receiving a public reprieve from major duties under Trump on its steel imports,BlueScope is secretly fighting allegations of breaching trade laws.
Meetings were held with more than ten competitors to induce a price fixing arrangement,fresh court documents the ACCC tried to keep secret show.
A major cartel court case against Bluescope has contributed to what Allan Fels says is a"landmark"legal moment that will drastically change business attitudes.
The steel giant and a former senior staff member are accused of trying to organise price-fixing with its competitors to push up prices.
Sanjeev Gupta's GFG Alliance made an informal approach to a joint Commonweath/South Australian taskforce about the possibility of a public debt guarantee after the re-election of the Morrison government in May,sources say.
Equity markets around the world are this week getting a boost from central banks and governments talking up the possibility of extra stimulus to get the world economy out of a funk.
A softer outlook for the first half of the new financial year guided by steelmaker BlueScope has seen investors sell off the stock sharply,pushing it down 8.4 per cent.