Tag: service center

Steel Market Update’s Steel Demand Index has moved into growth territory, but barely, after recovering slightly from our reading in late November, according to our latest survey data.

Flat Rolled = 54.0 Shipping Days of Supply Plate = 61.7 Shipping Days of Supply Flat Rolled After three months of inventory cuts, US service center flat-rolled steel inventories grew in November as shipments slowed. At the end of November, service centers carried 54 shipping days of flat-rolled steel supply on an adjusted basis, up […]

Thursday felt eerily quiet after a frenzy of steel and financial market news on Wednesday.

SMU’s Community Chat on Wednesday, Dec. 13, featured Bank of America SVP Ira Kreft.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel sheet prices, demand, inventory, imports, and what people are talking about in the market. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your […]

U.S. Steel will continue to operate the hot strip mill and finishing lines at its Granite City Works in southern Illinois.

Bank of America SVP Ira Kreft will be the featured speaker on SMU’s Community Chat webinar on Wednesday, Dec. 13, at 11 am ET. You can register here.

We have seen a wave of service center transactions announced since the beginning of the month.

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.

Bank of America SVP Ira Kreft will be the featured speaker on SMU’s Community Chat webinar on Wednesday, Dec. 13, at 11 am ET. We’ll discuss M&A in the steel and metals industries. Is there still room for consolidation in flat-rolled steel?

Oct. 26 was my previous Steel Market Update contribution. The night before, Ford and the United Auto Workers (UAW) announced they had reached a tentative agreement for a new labor contract.

On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand, inventories, imports, and what people were talking about in the market.

I want to address a few things in this 'Final thoughts': the latest SMU survey results, the plate market, and the potential sale of U.S. Steel.

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, […]

The US plate market has been rather quiet over the past couple of weeks since Nucor Corp. caught many off guard with a $140-per-ton price cut.

Steel Market Update’s Steel Demand Index has moved into growth territory after seeing steady improvement since mid-September, according to our latest survey data.

Friedman Industries was hit by falling steel prices in its fiscal 2024 second quarter ended Sept. 30, 2023, but anticipates improvement in its financial results for the remainder of the fiscal year.

Flat Rolled = 52.6 Shipping Days of Supply Plate = 61.8 Shipping Days of Supply Flat Rolled US service center flat-rolled steel inventories decreased for a third consecutive month in October. At the end of October, service centers carried 52.6 shipping days of supply, according to adjusted SMU data. This is down from 53.3 shipping […]

Cleveland-Cliffs announced it would seek a minimum base price of $1,000 per ton ($50 per cwt) for hot-rolled coil (HRC) on Nov. 7. Nucor said a day later that it was aiming for $950 per ton. Why didn’t Nucor follow Cliffs up to $1,000 ton? I think there might be some possible answers in our […]

Canadian metals distributor Russel Metals reported lower earnings in the third quarter as the company “navigated through volatile market conditions.”

Olympic Steel’s earnings edged up in the third quarter vs. a year earlier, though sales declined due to lower metal pricing, the Cleveland-based metals service center said.

Brown Strauss Steel has acquired Black Diamond Pipe & Tube Inc. of Peotone, Ill., just south of Chicago.

Arkansas-based metals processor Boyd Metals, is expanding its footprint at its Little Rock, Ark., facility.

Klöckner & Co. said it has agreed to acquire South Carolina-based fabricator Industrial Manufacturing Services (IMS) through US subsidiary Kloeckner Metals Corp.(KMC).

Ryerson Holding Corp, has acquired non-ferrous metals distributor TSA Processing.

Klöckner & Co. posted a narrower net loss in the third quarter as the Duisburg, Germany-based service center group touted the expansion of its North American footprint.

Nucor’s plate price cut notice caught many off guard this week, especially after the company had maintained its pricing position in late September.

Grand Rapids, Mich.-based carbon flat-rolled steel distributor Mill Steel Co. has appointed Kip Craddick as its new VP of sales.

Sheet prices are getting back into very lofty territory. That’s assuming you can find spot tons available for the balance of 2023 – and some of you say you can’t.

Ryerson saw lower sales and shipments in the third quarter and is anticipating further declines in the last quarter of the year.