Rationality returns to the steel market after price war

Steel & Tube chief executive Mark Malpass.

Wed, 03 Mar 2021

It's never easy for an outsider to track down who's responsible for a price war in any particular market.That goes double for the steel market, which appears to have finally returned to some degree of rationality after a price war that seemed to wound all players.We saw it in Fletcher Building's results: steel earnings before interest and tax were $18 million in the six months ended December, a turnaround for last year's annual $14m ebit loss and compared with just $1m in the previous first half.The Steel & Tube results conf...

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