Service Centers
Service Center Inventories Rising
Written by John Packard
January 13, 2014
One of the interesting points brought out in the most recent flat rolled steel survey is distributors inventories are rising. According to the results from last week’s survey steel inventories rose to their highest levels since January 2013 and now stand at 2.35 months.
MSCI data is due out later this week and SMU is forecasting that our Apparent Deficit of -58,000 tons will move into excess when the new data is released. Our forecast is for flat rolled inventories to move into an Apparent Excess of +150,000 tons (December MSCI) and +241,000 tons by the end of January before dropping back at the end of February. The link we have provided at the beginning of this paragraph takes you back to our original article and forecast. We will revise our forecast once the new MSCI data is revealed.
John Packard
Read more from John PackardLatest in Service Centers
Olympic Steel taps Norred for GM role in Georgia
Olympic Steel Inc. has appointed Larry N. Norred, Jr. to the role of general manager for its Buford (fabrication) and Winder (metal processing) operations in Georgia.
Nova Steel acquires Sheffield Steel Products
Canada's Nova Steel has fully acquired all of the assets of Ohio's Sheffield Steel Products.
Jack Biegalski joins Esmark Steel Group as CEO
Jack Biegalski, former president and CEO of American Heavy Plates, has been named the new CEO of the Esmark Steel Group.
Casey to lead Olympic’s manufactured metal products business
National service center chain Olympic Steel has made an internal promotion to fill the newly created role of director of manufactured metal products.
Russel Metals acquiring Kloeckner Metals centers to increase US presence
The seven facilities Russel agreed to purchase are located in Iowa, North Carolina, Georgia, Texas, and Florida.