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...

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