Tag: service center

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.

SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]

On Monday and Tuesday of this week, SMU polled steel buyers on an array of topics, ranging from market prices, demand, and inventories to imports and evolving market events.

Cleveland-Cliffs Chairman, President and CEO Lourenco Goncalves had some insightful things to say today about the steel market and about a conference we suspect might be Steel Summit.

Cleveland-Cliffs’ earnings tumbled in the second quarter as the company cited weak demand and pricing.

The latest SMU market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Historical survey results are also available under that selection. If you need help accessing the survey results, or if your […]

I thought we’d have more clarity this week on Section 232, Mexico, and a potential carve-out for steel melted and poured in Brazil. As of right now, the only official comment I have is from the Office of the United States Trade Representative (USTR).

Sheet steel buyers continue to report that mills are willing to talk price on new orders, according to our most recent survey data collected this week.

Steel mill lead times remain short according to our latest market canvass of steel service center and manufacturer buyers. Of the sheet and plate products SMU tracks, production times for all materials are nearing historical lows not seen in months or years.

Flat Rolled = 60.9 Shipping Days of Supply Plate = 59 Shipping Days of Supply Flat Rolled US service center flat-rolled steel supply remained high at the end of June at 60.9 shipping days of supply, according to adjusted SMU data. This translates to 3.05 months of supply in June. At the end of May, […]

Reliance Inc. has reached an agreement to buy certain assets of Ferragon Corp.'s FerrouSouth division, a toll processing operation based in Iuka, Miss.

Two veteran investment bankers joined SMU's Community Chat on Wednesday, July 10, to talk consolidation and M&A in the metals industry.

Steel Warehouse plans to expand in Jefferson City, Tenn., with an investment of ~$20 million.

Flat-rolled steel prices have been largely falling since the beginning of the year. Even after a slight bump in early April when mills tried to halt the downtrend, the decrease resumed.

Looking out over the American economy, Triple-S Steel Holdings CEO Gary Stein believes what is required doesn’t fundamentally have to do with government policy. “Rather, it’s a mind shift.”

Nucor Corp. announced that its plate mill group would cut prices for as-rolled, discrete, and normalized plate with the opening of its August order book.