Rebuilding steel margins as prices soar

Rebuilding steel margins as prices soar
Vulcan Steel CEO Rhys Jones sees a structural shift in steel pricing. (Image: supplied)
Jenny Ruth
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...

More Infrastructure

Scott Base redevelopment staff facing redundancy
Policy

Scott Base redevelopment staff facing redundancy

The troubled build is going through a reset and layoffs are expected.

Oliver Lewis 07 Oct 2024
Fast track's Northland connections
Economy

Fast track's Northland connections

An umbilical cord of infrastructure for Northland runs through the fast track list.

Pattrick Smellie 07 Oct 2024
Govt fires first salvo in 'growth now' narrative
Economy

Govt fires first salvo in 'growth now' narrative

Fast-track announcements folllow Christopher Luxon's promised infrastructure focus.

Pattrick Smellie 06 Oct 2024
Seabed mining among 149 fast-track projects
Policy

Seabed mining among 149 fast-track projects

Eleven mining projects will be fast-tracked, the Government says.

Staff reporters 06 Oct 2024