Rebuilding steel margins as prices soar

Vulcan Steel CEO Rhys Jones sees a structural shift in steel pricing. (Image: supplied)

Fri, 11 Mar 2022

The price war that the New Zealand steel industry was just emerging from as the covid-19 pandemic hit now feels like a distant memory amid ever-escalating input costs, but companies are fattening margins too.Steel & Tube advised its customers at the end of February it was putting up prices yet again from April 1 by between 4% and 10%, depending on the product, and that local freight rates would rise by 8% to 10%.And that was before the price of nickel, a key input into stainless steel, more than doubled in a single day on March 8, causing t...

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