Australia’s fabricated steel industry says it’s reached a crisis point, with cheap overseas imports surging more than 50 per cent in the past year and rapidly eroding local demand. Fabricators report production drops of up to 90 per cent as major projects turn to low‑cost suppliers in China and Vietnam, who are offering steel at up to half the price of Australian manufacturers.
Long‑running firms warn they may not survive the downturn. Sydney‑based Cullen Steel has already cut staff and absorbed more than $20 million in losses as it struggles to match foreign pricing. The pressure is also being felt in regional centres, including at the Whyalla Steelworks, which is losing work to imports now dominating major infrastructure builds.
Amid mounting concern the nation could lose essential sovereign steel‑making capability, the Productivity Commission has launched a federal inquiry that will consider tariffs, quotas and other measures to support the sector.
