Australia’s largest steelmaker, BlueScope, warns a shortage of affordable gas on the eastern seaboard could prevent it from lobbing a bid to rescue the collapsed Whyalla steelworks, as it steps up calls for the Albanese government to force prices lower.

BlueScope is leading a consortium that’s considering a joint bid to buy the beleaguered South Australian steel mill, which had been owned by British billionaire Sanjeev Gupta but was placed into administration this year.

The South Australian and federal governments have unveiled a $2.4 billion bailout package for the facility, which will include $1.9 billion for its new owners to upgrade its infrastructure.

Prime Minister Anthony Albanese has announced a $2.4 billion support package for the Whyalla steel mill. Credit: Ben Searcy, Nin

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