NZ Steel's Pacific Steel restructuring hurt margins, says MBIE report on dumping complaint

Mon, 19 Mar 2018

By Paul McBeth March 20 (BusinessDesk) - Restructuring at Pacific Steel and weak global demand rather than the behaviour of Chinese rivals squeezed the company's margins, says an officials' report that recommended the government reject its dumping complaints for the second time. Cheap imports did undercut prices at Pacific Steel, but the New Zealand manufacturer's margins were hurt largely by weaker demand and a change in ownership when ASX-listed BlueScope Steel's New Zealand Steel division bought the business from Fletcher Building, the...

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