Tag: service center

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

Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact info@steelmarketupdate.com. Flat rolled = 61.4 shipping days of supply Plate = 50.5 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers remains seasonally high. November inventories edged down […]

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.

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

The investment is aimed at growing Kloeckner’s automotive and industrial segment in the US and Mexico.

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.

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

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.

Grand Steel has acquired a new toll processing facility in Chattanooga, Tenn., marking the third location for the flat-rolled steel service center.

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.

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.

We got a little flack for adjusting our sheet momentum indicators to neutral last week. To be clear, we didn’t adjust them to lower. Part of the reason we moved them to neutral was because there are some unusual cross-currents in the current market. On the news side, you could make a case that there should nowhere to go but up.

Steel Warehouse Chief Commercial Officer Marc Lerman will join Steel Market Update for a Community Chat webinar on Wednesday, Sept. 18, at 11 a.m. ET. You can register here. The live webinar is free for all to attend. A recording will be available only to SMU members.

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.

Russel Metals has completed the acquisition of seven service center locations from Samuel, Son, & Co.

Friedman Industries reported positive earnings in its 2024 fiscal first quarter ended June 30.

Klöckner & Co. swung to a loss in the second quarter on-year, as the company expects a slip in sales for full-year 2024 because of the drop in steel prices.

Ryerson's earnings slumped in the second-quarter on-year but swung to a profit from the first quarter.

SMU has heard from some larger buyers who have stepped back into the market to buy at prices that, if not at a bottom, they assess to be close to one. Is it enough to stretch out lead times and send prices upward again? Or do we continue to scrape along the mid-$600s per short ton (st) as we have been doing for most of the last month?

Reliance Inc. said a faster-than-expected decline in carbon steel prices offset higher shipments in the second quarter.

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