bluescope steel ltd said it has agreed to buy the ferrous scrap steel recycling business of metalx llc the largest supplier of scrap feed to its north star minimill in ohio australias bluescope will pay us240 million for two of metalxs sitesin indiana and in ohioa deal that reflects its focus on growth in the us the company said using our strong financial position moving upstream to acquire a scrap supply business helps underpin north stars supply chain and its great competitiveness said chief executive mark vassella north star will soon move from a twomillion metric tons per annum mill to almost three million tons per annum and as the business expands securing scrap is the right play metalx currently supplies about 20 of the scrap used by north star bluescope said the deal is on a cashfree and debtfree basis and includes working capital it is expected to be completed by the end of december the australian steelmaker said