Tag: service center

Lower volumes and steel prices dampened Worthington Steel’s profits, but market momentum is building, the metals processor said in its most recent quarterly earnings report.

Demand is up, but tariffs raise concerns

Flat rolled = 58.6 shipping days of supply Plate = 49 shipping days of supply Flat rolled With the rapid run up in prices, US service centers saw a significant pickup in orders that caused flat-rolled steel supply to decline in February. At the end of February, service centers carried 58.6 shipping days of flat-rolled […]

Olympic Steel has seen jobs for line pipe jump in recent weeks as the Trump administration has talked up fossil fuel production, which is good news for hot-rolled coil producers. Meanwhile, tariff talk has lengthened lead times, Olympic executives said.

Ryerson swung to a loss in the fourth quarter, but has seen a turnaround in the last 30 days.

Reliance noted that it is about 95% domestically sourced.

Russel Metals said on Thursday that it doesn’t expect to be directly impacted by US tariffs on Canadian steel. The Mississauga, Ontario-based distributor made the comments in its quarterly earnings report on Thursday. The company doesn’t export significant volumes to the US, it said, and thus doesn’t expect to be directly impacted. However, “The primary […]

Friedman swings to a loss in its fiscal third quarter of 2025.

If 2021 and 2022 was the party, 2024 is the morning after, one panelist said.

Olympic Steel Inc. has promoted Brant Harbert to general manager for the company’s three facilities in Bedford Heights and Dover, Ohio.

Denver-based service center Brown Strauss Steel has named Kris Farris as CEO, effective Jan. 1. Farris has also joined the company’s board of directors. He previously served as president and COO of Brown Strauss Steel. Farris is taking over from Ryan Secrist, who held the CEO role since 2013. Secrist is stepping down from position […]

US mill secures $22 M funding for Nexcast project US-based rolling mill, Golden Aluminum, has secured $22.3 million in government funding for its next generation mini mill project. The company was awarded the funding from the US Department of Energy’s Office of Clean Energy Demonstrations initiative at the end of November. Golden Aluminum plans to […]

Steel fabricators and distributors SPS Companies and State Steel will be merging their service center businesses under the SPS Companies family of firms.

The deal will expand Norfolk’s stainless steel sheet and coil product lines, the company said.

Alkar Steel and Processing supplies hot- and cold-rolled steel, high carbon spring steel, high strength-low alloy steel, coated and stainless steel products throughout the Midwest.

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.