The coronavirus is likely to knock millions off the bottom of BlueScope over the next six months.
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The company has four major sites and a number of offices in China, employing around 2000 people.
BlueScope CEO Mark Vassella said they had all reopened aside from the sales office in Hubei, the province that is the epicentre of the COVID-19 outbreak and remains in lockdown.
Mr Vassella said there had been no deaths among BlueScope employees nor and cases of coronavirus reported.
While Chinese employees at most locations had now returned to work, Mr Vassella said there would be a flow-on effect in terms of revenue.
"Our February performance was heavily impacted and we expect the same for March," Mr Vassella said.
READ MORE: BlueScope reports drop in half-year profits
"Beyond this our rate of recovery in demand and activity remains unclear at this point."
But BlueScope is still forecasting that there is no chance of any revenue from that arm for the rest of the financial year.
"We're saying that effectively we won't be getting any contribution from our China business in the next six months," he said.
"In the scheme of things that's about $15 million or so, relative to the $300 million [before-tax profit across the business] we've forecast. So that gives you some sense of the scale of it.
"We've effectively drawn a line through our China business for the next six months. We won't expect any contribution as those businesses in China get back on their feet."
The BlueScope boss said the company was taking measures such as supplying face masks and temperature checks as well as monitoring the health status of their Chinese employees.
While the Chinese operations are out of action, Mr Vassella said they hadn't seen any boost in demand in other BlueScope businesses from customers looking elsewhere to source steel.
"We've not seen anything material emerge on that front but of course we're watching that closely," Mr Vassella said.