Tag: distributor

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

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

They say failure can lead to success. Such was the case for Nate Lerman. While liquidating the inventory of his failed toy truck business, he realized the profit potential in steel, which ultimately led to the creation of Steel Warehouse. Since its founding over 75 years ago in South Bend, Ind., Steel Warehouse has remained […]

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

Ryerson has acquired Production Metals, LLC, a Monroe, Conn.-based aluminum, stainless, and specialty steel distributor, for an undisclosed sum.

Former U.S. Steel executive Kenneth Jaycox is moving from steel to the automotive parts industry.

Galvanized prices have fallen precipitously from a month ago, though many market participants think a bottom is in sight.

The recently announced acquisition of Stelco by Cleveland-Cliffs (Cliffs), priced at nearly three times book value, provides a great price for Stelco shareholders. And various synergies will likely leave Cliffs with tremendous runway for further growth in this deal. Cliffs expects to close this deal in 2024 Q4 upon government approval. This approval is expected but not a given.

Mill Steel Co. has named Evan Keebler as VP of sales for its construction segment.

Galvanized prices have tumbled from a month ago, and many market participants expect that trend to continue in July.

The USMCA is an important trade agreement, as long as the member countries honor its requirements. These were the sentiments echoed by top officials of the Steel Manufacturers Association (SMA) and Metals Service Center Institute (MSCI) during a press conference at their annual meeting last week in Scottsdale, Ariz.

When you step out of the airport in Phoenix in June, the heat tends to focus your mind. I was in town to attend the Steel Manufacturers Association/Metals Service Center Institute (MSCI) annual meeting in Scottsdale, Ariz. The desert locale with palm trees, swimming pools, and the obligatory high-powered air conditioning was fitting for 2024. Between the presidential election and the geopolitical situation, things have definitely been heating up.

Venture Steel announced plans to expand its flat rolled processing facility in Ramos Arizpe, Coah., Mexico.

Triple-S Steel Holdings has acquired Houston-based plate distributor Griffin Trade Group.

United Steel Supply plans to invest up to $10 million to open a steel processing and painting facility at the Ports of Indiana-Jeffersonville near Louisville, Ky.

Russel Metals’ earnings fell in the first quarter, but the Toronto-based metals distributor sees steel prices stabilizing in the near term and staying above historical averages.

Reliance Inc.’s earnings slumped in the first quarter of 2024, but the company expects better than normal seasonal recovery in demand in the second quarter.

Lapham-Hickey Steel has acquired the operating assets of Crystal Steel Corporation of Middleton, Mass., for an undisclosed sum.

Reliance Inc. said it has completed its buy of Houston-based American Alloy Steel, effective as of April 1.

The US plate market has been largely quiet over the past week since Nucor’s $90-per-ton price cut at the close of February.

Reliance Inc. – formerly Reliance Steel & Aluminum Co. – introduced its “new company identity” that emphasized its “evolution to more than steel,” the company said in its fourth-quarter and full-year earnings report.

Reliance has entered into an agreement to purchase Houston-based American Alloy Steel Inc. for an undisclosed sum.

Prices for galvanized products have been falling for more than a month, and market participants expect this trend to continue in the near term.

The pig iron market has risen in recent months from the high $390s per metric ton (mt) last fall to $490/mt for Brazilian material and a bit more for Ukrainian product - for an overall average of $495/mt CFR.

What a difference a few weeks make…. As this is our first column after the new year, it is quite interesting to observe how different the steel world looks at the end of January vs. the end of December. 

I expected that we’d start off January with prime scrap prices modestly up if for no other reason than industrial activity typically slows down over the holidays. And mills’ appetite for scrap typically increases in anticipation of stronger Q1 order activity.

Flat rolled distributor Mill Steel Co. announced the appointment of a new CFO on Jan. 9.

Canadian metals distributor Russel Metals Inc. plans to acquire Samuel, Son & Co.’s carbon plate service center operations in Western Canada and the US for roughly $225 million.