New BlueScope Steel Chief Sets Out 2026 Agenda

It will be cold comfort to many Australians that higher mortgage repayments is the pain the Reserve Bank of Australia (RBA) inflicted upon them this week in order to avoid the even greater pain of rising inflation. At least, that was the logic behind the RBA´s decision on Tuesday to increase rates by 25 basis points to 3.85%. Insofar as it impacts the steel industry, higher rates can be linked to less home building, which would mean fewer sales of TRUECORE® and COLORBOND®. Such is the landscape facing Tania Archibald, who officially took the helm at BlueScope Steel on Monday as its new managing director and chief executive officer. Despite the headwinds, in an upbeat statement to the Australian Stock Exchange, Ms Archibald said the BlueScope portfolio is well positioned. Population growth in Australia, she said, is driving steel.