CEO Update – November 2024

Hi everyone, 

As I reflect on 2024, it has been a year that has tested the resilience of the Australian steel industry. 

Travelling across the country, from Western Australia through to Queensland, a common theme coming through when I have been speaking to customers has been the impact of the softer market conditions. 

The steel industry is cyclical, and this is evident now where, following the peak demands coming out of the COVID-19 pandemic, we are now in a period of low demand for steel. 

This is not unique to Australia, with many countries around the world also experiencing lower demand for steel in an over capacity scenario which is tensioning prices downwards and further impacted by exports from China globally. 

In my September update, I wrote about how Australia must continue to sustain a strong local steel industry, particularly as steel makers seek to lower carbon emissions.  

Each year Australia produces more than 5 million tonnes of steel. This supports a supply chain that includes more than 300 distribution outlets and over 2,000 fabrication businesses.   

At InfraBuild, we positively have a direct and indirect impact on the steel industry. We employ more than 4,500 people Australia-wide, have more than 17,000 wholesale and retail customers, and work with around 15,000 suppliers. 

Australia has forged and fostered steel manufacturing for more than a century. As a country proud of its manufacturing heritage, I am passionate for this to continue. 

To do so, InfraBuild will keep investing in new products and services.  

From our new low-embodied carbon reinforcing bar, SENSE 600®, to using robotics and AI to improve our steel manufacturing, to developing new digital services that make it easier for our suppliers and customers to work with us, InfraBuild is doing our part to continue Australia’s steel and manufacturing industry into the future. 

With so many businesses relying on our products, InfraBuild will continue to stand up for and use our voice supporting local distributors, fabricators, manufacturing and the local steel industry, which in my view is of strategic important for Australia.  

The 2024 year has been challenging for the industry, and I am more optimistic for 2025, especially for the second part of the year, and I am confident of what we can achieve together. 

All the best and stay safe,  

Francisco Irazusta   
CEO, InfraBuild