Category: Service Centers

Worthington Steel's CEO feels optimistic as the company heads into its second year as a standalone company.

Depressed demand and weak prices drove Worthington Steel’s second fiscal quarter results to a sequential decline.

Jodi Parnell has been named president and CEO of Birmingham, Ala.-based service center group O’Neal Steel.

Russel Metals Inc. has closed on its buy of Tampa Bay Steel.

Worthington Steel has reached an agreement to acquire a controlling equity stake in Italian-based electric motor lamination producer Sitem SpA.

Contractors Steel was acquired in 2018 by UPG, a private equity firm with a portfolio of metals and logistics companies

The distributor and service center is opening a 250,000-square-foot facility in Canton, Mich.

Flat-rolled steel service center Alliance Steel has expanded into the tubular market with the launch of Alliance Tubular Products. The new Alliance division manufactures square and rectangular electric resistance welded (ERW) products and steel HSS tubing. Production has already started and will continue to ramp up next year, the company said in a statement. Alliance […]

The Piqua, Ohio-based service center announced the retirement of its CFO and other personnel changes.

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 […]

Tampa Bay Steel, a Florida-based steel distributer and metal processer, generated average annual revenues of about US$115 million

Friedman Industries swung to a loss in its fiscal second quarter ended Sept. 30 amid “challenging” business conditions.

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.

Cleveland-based Olympic Steel announced its first acquisition of 2024, Georgia-based components manufacturer Metal Works.

Russel Metals Inc.’s profit shrank during the third quarter as steel prices continued to be volatile.

Ryerson chief Eddie Lehner touted the company’s buy of Monroe, Conn.-based Production Metals, which heralds the company’s entry into aerospace.

Olympic Steel remained profitable in the third quarter despite strong economic headwinds and pricing pressure across the steel industry.

The theme of “unprecedented stability” in pricing predominated among galvanized steel buyers this month.

Ryerson swung to a loss in Q3 as it navigated a "contractionary" environment in industrial metals and manufacturing.

Reliance Inc. reported a fall in third-quarter earnings, exacerbated by near-term election and demand uncertainty. With little relief expected through the end-of-year holidays, North America's largest metals service center group is looking ahead to better days in 2025.

Reliance Inc., the largest service center chain in North America, has picked Douglas Stotlar to be the next chairman of its board. The move will be effective Jan. 1, 2025. Mark Kaminski, the current chair, will then step down from that role but will remain on the board.

Flack Global Metals (FGM) has closed on its majority ownership stake in Pacesetter Steel Service.

Worthington Steel’s earnings tumbled in its fiscal first quarter of 2025. The company cited a drop in selling prices and tons sold for the sales dip for the three months ended Aug. 31.

Galvanized steel buyers on Tuesday discussed the eerie stability in sheet prices of late. Expectations are for the murky market to persist in the short term, while glimmers of hope continue for prices pushing higher.

Triple-S Steel Holdings has acquired West Coast steel products distributor Borrmann Metals Co.

The US Securities and Exchange Commission said it has settled charges with Esmark and company founder Esmark James P. Bouchard regarding a tender offer for U.S. Steel last year.

SMU Senior Analyst and Editor David Schollaert sat down with leading steel service center executives at the SMU Steel Summit 2024 in Atlanta to discuss the issues affecting the industry.

Mexican service center Aceromex has installed a new cut-to-length line in its facility in Cienega de Flores in the state of Nuevo Leon.

Swampy. Sticky. Mushy. Murky. These were all words galvanized buyers used this week to describe the current state of the US steel market.

Mill Steel Co., a supplier of flat-rolled steel and aluminum products, has named Scott Hauncher as chief financial officer.