The chief executives from Majestic Steel, Olympic Steel, and Worthington Steel swapped notes on inventory discipline, customer trust, and the race to turn AI from hype into results.
CEO Geoff Gilmore praised his employees for gaining market share, filling open capacity, and exceeding customer expectations.
Worthington Steel earnings rose while sales fell in its fiscal fourth quarter.
The Ohio-based steel processor is now the majority owner of Italy's Sitem Group, which has six manufacturing sites across Italy, Switzerland, Slovakia, and France.
Worthington Steel is preparing to move its corporate headquarters to the Easton area of Columbus, Ohio.
This is the Ohio-based steelmaker’s fourth time winning the award.
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.
Worthington Steel confirmed it is closing the Worthington Samuel Coil Processing (WSCP) facility in Cleveland. WSCP is a joint venture between Worthington Steel and Oakville, Ontario-based Samuel, Son & Co.
"Personally, I find it very hard to believe that we would be in a trade war with Mexico and Canada for more than a few months at any given time. I don't know how Mexico and Canada could survive that. That's a recession for them. That's a few points off GDP for us - my opinion.”
Worthington Steel's CEO feels optimistic as the company heads into its second year as a standalone company.
Depressed demand and weak prices drove Worthington Steel’s second fiscal quarter results to a sequential decline.
Worthington Steel has reached an agreement to acquire a controlling equity stake in Italian-based electric motor lamination producer Sitem SpA.
Worthington Steel has named Cliff Larivey as the company’s president of flat-rolled steel processing, effective Dec. 1. He will replace Jeff Klingler, who had been performing the role for the past year.
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.
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.
There are just 40 days left until the 2024 SMU Steel Summit gets underway on Aug. 26 at the Georgia International Convention Center (GICC) in Atlanta. And I’m pleased to announce that it's official now: More than 1,000 people have registered to at attend! Another big development: The desktop version of the networking app for the event has officially launched!
Worthington Steel’s earnings slipped in its fiscal fourth quarter while sales ticked up.
Now that June has arrived, the official countdown until SMU’s Steel Summit 2024 – North America’s premier flat-rolled steel conference – has begun. If you haven’t already registered, don’t delay. More than 700 attendees from more than 300 companies have already registered to be in Atlanta this August. In short, it’s poised to be another […]
We’re just a few months away from SMU’s Steel Summit 2024 – North America’s premier flat-rolled steel conference.
The major steel-handling port in Burns Harbor, Ind., is getting substantial infrastructure upgrades.
Non-refillable steel cylinder imports from India are subject to new antidumping and countervailing duties (AD/CVD).
There’s that concept from Adam Smith we all learn about in our Econ 101 classes: The Invisible Hand. A simple Google search will provide a refresh, but if memory serves I would classify it as something akin to “the market is magic” or “the market’s gonna market.” Today, obviously, we live in a mixed environment. There are a lot of hands out there, and they’re not too difficult to see. In this election year of 2024, one of the most visible hands out there probably belongs to the federal government.
Worthington Steel is taking a pause on M&A activity as it focuses on progressing its electrical steel expansions in Mexico and Canada.
Worthington Steel’s profits jumped in its fiscal third quarter of 2024 vs. a year earlier, its first quarter as a standalone company.
Estelle Tran, prices lead at CRU, Michael Cowden, managing editor at SMU and Josh Spoores, principal analyst at CRU, will be the featured speakers on a special CRU webinar. It will take place on Thursday, March 21, at 10 a.m. ET. You can learn more and register here.
A Detroit-area mill entered the scrap market on Thursday offering down $70 per gross ton (gt) on #1 busheling. And Nucor announced a minimum base price of $825 per short ton (st) for hot-rolled (HR) coil. What's the best way to interpret would could be read as contradictory trends?
Worthington Steel began trading publicly on New York Stock Exchange on Dec. 1. In one sense, this marked the “finish line” of the company’s separation process. As the company gets ready to release its first earnings report as a standalone company, president and CEO Geoff Gilmore reflected on the journey, and what lies ahead.
Flat-rolled steel prices have been running downhill in a hurry since the beginning of the year. In some ways, it's no surprise because other indicators have also been pointing lower for some time. Lead times have been contracting since the beginning of the year and are now below the five-week mark for hot-rolled (HR) coil for the first time since September. Mills are more willing to negotiate lower prices, and early reports seem to indicate that scrap might settle lower again in March.
A clear consensus has emerged among respondents to SMU’s latest steel market survey that hot-rolled (HR) coil prices will bottom this month or in April. Seventy-five percent of respondents to our latest survey think that prices will find a floor before May as the chart below shows:
Worthington Steel President and CEO Geoff Gilmore will be the featured speaker on the next SMU Community Chat on Wednesday, March 6, at 11 am ET. The live webinar is free for anyone to attend. A recording is available only to SMU subscribers. You can register here.