Forsyth Barr confident Vulcan Steel will ‘outperform’ peers

The current demand for steel in both NZ and Australia is strong due to elevated construction activity which accounts for around half of steel demand in both markets. (Photo: supplied)

Dan Brunskill

Tue, 14 Dec 2021

Broking firm Forsyth Barr has initiated coverage of Vulcan Steel with a prediction it will outperform its peers in the steel distribution industry.The New Zealand-based steel company dual-listed on the NZX and ASX in November with an initial public offer focused more on Australian investors than local ones.Vulcan Steel is a pure-play steel processor and distributor in NZ and Australia. It distributes carbon steel, stainless steel and engineering steel to a wide range of customers in industries such as engineering, construction, and mining.Credi...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}