Ryerson CEO Eddie Lehner says the last three months have felt like three separate years due to the shock of the COVID-19 pandemic: BCV (Before the Coronavirus), DCV (During the Coronavirus) and ACV (After the Coronavirus). After a slow start to January due to weak demand from OEMs, the quarter gave way to a “pandemic […]
“Beyond seasonally subdued,” is how Ryerson Holding CEO Eddie Lehner described demand in the fourth quarter of 2019. Ryerson shipped 541,000 tons last quarter, down 6.2 percent year-over-year and 9.5 percent lower than in the third quarter. Revenue decreased 17.1 percent to $961.5 million compared to Q4 2018 and net income was $26.4 million. Average […]
We have adjusted our plate price momentum indicator from neutral to lower. Prices have been dropping over the past couple of weeks, and steel buyers are very negative on the markets right now (see some of the comments in an article above). I have to tell you I am really struggling with all of the […]
John Packard is traveling… Eddie Lehner, Ryerson president and CEO, is optimistic that carbon steel prices will bottom in the fourth quarter. “Given where prices are now, the recent price increases have a better chance of sticking than the ones that were announced in Q2 and Q3,” he commented during the company’s third-quarter conference call […]
Results for Ryerson Holding Corp., the Chicago-based processor and distributor of industrial metals, suffered from declines in steel prices and demand during the third quarter, but company executives are hopeful for improved margins in the coming quarters. Ryerson reported third-quarter revenues of $1.10 billion, a decrease of 11.6 percent compared to $1.25 billion in third-quarter […]
Reliance Steel & Aluminum continues to dominate the service center market, ranked No. 1 once again in the just-released Metal Center News Service Center Top 50 with $11.5 billion in revenues. In total, North America’s Top 50 metals distributors accounted for a record $61.1 billion of the industry’s sales last year. Sixteen of the companies […]
Alro Steel Corp. is reportedly investing $12 million in improvements to the former Central Steel & Wire Co. facility on Milwaukee’s south side, which it purchased for $7.1 million earlier this year. The Jackson, Mich.-based distributor plans to relocate its Wauwatosa distribution center there by late 2020. Alro is in the process of constructing a […]
Steel demand from the agricultural sector is down substantially, according to a panel of steel distributor and processing CEOs at the 2019 SMU Steel Summit. North American farming profits were hit hard in 2019 by weather, high steel prices and retaliatory Section 232 and 301 tariffs, impacting the ability of farmers to invest in equipment. […]
Steel Market Update is pleased to announce the recipient of the first SMU NexGen Leadership Award is Meredith Meade at Tempel Steel Company. Ms. Meade was presented her award by Steel Manufacturers Association CEO Philip Bell. SMA sponsored this year’s award, which attracted 21 highly qualified nominees from 18 companies. The finalists for the award were Ms. […]
Nearly 1,000 executives are registered with just two weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our 9th […]
For the past three days, I have been studying the nominations of 21 young individuals who were nominated by their companies for the 2019 SMU NexGen Leadership Award, which this year is being sponsored by the Steel Manufacturers Association. The process has been exhilarating to say the least. I decided many years ago that as […]
Declining steel prices and inventory destocking contributed to a guidance miss for Ryerson Holding Corp. Although shipments increased 0.6 percent to 623,000 tons quarter-to-quarter, net sales fell 2.1 percent to $2.1 billion. Net income was $16.4 million, down from $30 million in the previous quarter and $18 million a year ago. Earnings per diluted share dropped […]
If you haven’t registered for the Premier Steel Conference in North America, then this is the time to do so. The Steel Market Update Events App, which all 900+ attendees have access to, was launched last week, meaning registered attendees are now busy organizing meetings with each other in advance to make the most of their time […]
If you haven’t registered for the Premier Steel Conference in North America, then this is the time to do so. The Steel Market Update Events App, which all 900+ attendees have access to, was launched last week, meaning registered attendees are now busy organizing meetings with each other in advance to make the most of their time […]
Steel Market Update and the Steel Manufacturers Association are committed to promoting youth and encouraging more young people to consider careers in the steel and manufacturing industries. The 2019 SMU NexGen Leadership Award is just one of the ways we are recognizing the existing talent within the industry. There is still time to get in […]
SMU NexGen Leadership Award – Nomination Deadline Aug. 1, 2019 – Award to be Given at SMU Steel Summit Conference The first SMU NexGen Leadership Award – sponsored by the Steel Manufacturers Association – will be awarded at the 2019 SMU Steel Summit Conference We are looking for qualified people in the industry (manufacturing, service […]
Over 800 executives are registered with just seven weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our […]
Over 800 executives are registered with just seven weeks to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center will be the home of this, our […]
More than 700 executives are registered with slightly more than two months to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center (www.gicc.com) will be the […]
More than 700 executives are registered with slightly more than two months to go before the start of the 2019 SMU Steel Summit Conference. We continue to see strong interest in this year’s event, which will be held in Atlanta, Ga., on Aug. 26-28. Once again, the Georgia International Convention Center (www.gicc.com) will be the […]
The Georgia International Convention Center (www.gicc.com) as well as the three Gateway Hotels (Marriott, Renaissance and SpringHill Suites) are all conveniently located at the first stop of the free SkyTrain out of the Atlanta International Airport (ATL). The second stop on the SkyTrain is for car rentals. Our overflow hotel – the Atlanta Airport Marriott […]
2019 SMU Steel Summit Conference – A Sneak Peek – Day 1 Written by: John Packard, President & CEO, Steel Market Update RE: 2019 SMU Steel Summit Conference, August 26-28, 2019 – Location: Georgia International Convention Center, Atlanta, GA The Georgia International Convention Center (www.gicc.com) as well as the three Gateway Hotels (Marriott, Renaissance and […]
Steel Market Update is dedicated to assist the greater steel community to attract and maintain young people to the industry. The SMU NexGen Leadership Award, which is in partnership with the Steel Manufacturers Association, is but one step in the process that was begun many years ago. Our Steel 101: Introduction to Steel Making & […]
Ryerson President and CEO Eddie Lehner said he expected the price of ferrous scrap to fall by $20-30 per ton in May, not to fall to $230 per ton as reported in Thursday’s issue of Steel Market Update in an article on Ryerson’s quarterly conference call. Lehner was also misquoted in a comment that should […]
Note: this article was corrected on 5/3/2019; scrap will be down by $20-$30 per ton-in May, not falling to $230 per ton as previously stated. Ryerson Holding Corp. is expecting a better second half for the steel industry despite some weakening economic data and inventory issues. “Last year was a very unusual time for our […]
U.S. Steel announced a major $1.2 billion investment in new thin-slab casting technology, a new rolling mill and a co-gen power plant at its Mon Valley Works complex. This investment is not adding new steelmaking capacity to USS Mon Valley, which is rated at 2.9 million net tons. In a note to her clients, Bank […]
Like the mills, service centers enjoyed robust returns in 2018. With one quarter in the books, it appears this year is setting up to be more challenging. Steel Market Update has recruited three of the industry’s top distribution execs to share their perspectives on steel demand in 2019 during SMU’s Steel Summit Aug. 26-28 in […]
Like the mills, service centers enjoyed robust returns in 2018. With one quarter in the books, it appears this year is setting up to be more challenging. Steel Market Update has recruited three of the industry’s top distribution execs to share their perspectives on steel demand in 2019 during SMU’s Steel Summit Aug. 26-28 in […]
For all of you golf fanatics, it was fun to see Tiger Woods win after a 14-year drought at the Masters, and after his serious back injuries that made it look doubtful if he would ever be able to play again, never mind win a Masters Championship. I don’t have the exact count of current […]
Registrations continue to pour in for the 2019 SMU Steel Summit Conference. Here are a few of the latest registrations from this week (those with an * mean more than one person registered from that company): Ryerson*, Whirlpool, Rheem*, JFE Shoji Trade America, Wallner Expac*, Ram Steel Framing, Oshkosh Corporation*, JSW Steel USA* and Midrex […]