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
Reliance reports record tons sold in Q1
A factor in the sales was customers buying ahead of tariff-related price increases.
Galv buyers notched strong Q1, but see uncertainty on the horizon
Participants on the HARDI Sheet Metal/Air Handling Council call said underlying demand is solid but there are slower pockets in some markets.
GM names Worthington a 2024 Supplier of the Year
This is the Ohio-based steelmaker’s fourth time winning the award.
Olympic taps Hegler for GM role at Action Stainless
Olympic Steel has named Alex Hegler as general manager for its Action Stainless facility in Rock Hill, S.C.
Olympic opens new Houston facility for Action Stainless unit
Olympic Steel has opened a new facility in Houston to support its Action Stainless business.