Forsyth Barr confident Vulcan Steel will ‘outperform’ peers

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
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...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024