Service Centers
Service Center Inventories Rising
Written by John Packard
January 13, 2014
One of the interesting points brought out in the most recent flat rolled steel survey is distributors inventories are rising. According to the results from last week’s survey steel inventories rose to their highest levels since January 2013 and now stand at 2.35 months.
MSCI data is due out later this week and SMU is forecasting that our Apparent Deficit of -58,000 tons will move into excess when the new data is released. Our forecast is for flat rolled inventories to move into an Apparent Excess of +150,000 tons (December MSCI) and +241,000 tons by the end of January before dropping back at the end of February. The link we have provided at the beginning of this paragraph takes you back to our original article and forecast. We will revise our forecast once the new MSCI data is revealed.
John Packard
Read more from John PackardLatest in Service Centers
Miami Valley Steel Service announces personnel changes
The Piqua, Ohio-based service center announced the retirement of its CFO and other personnel changes.
October service center shipments and inventories report
Flat rolled = 63.4 shipping days of supply Plate = 52.4 shipping days of supply Flat rolled shipments and inventories Flat-rolled steel supply at US service centers remains seasonally high. October inventories increased after edging lower in September – a dynamic driven largely by disappointing demand. October’s report reflects lower demand and stable lead times […]
Russel Metals to acquire Tampa Bay Steel
Tampa Bay Steel, a Florida-based steel distributer and metal processer, generated average annual revenues of about US$115 million
Friedman swings to loss amid ‘challenging’ market
Friedman Industries swung to a loss in its fiscal second quarter ended Sept. 30 amid “challenging” business conditions.
Worthington Steel taps Larivey as flat-rolled steel president
Worthington Steel has named Cliff Larivey as the company’s president of flat-rolled steel processing, effective Dec. 1. He will replace Jeff Klingler, who had been performing the role for the past year.