The boss of Australasian steel distributor Vulcan Steel expects a wave of pent-up demand as the eastern states come out of lockdown in Australia, and says old-fashioned cold calling has helped the group add an extra 4 per cent to its customer base in the past two years.

Rhys Jones, the chief executive of Vulcan, said on Monday that the group’s prospectus had factored in a downturn in the September quarter and the expectation of a rebound in the December quarter.