• Skip to main content

    Market Segment

    July 25, 2014

    Reliance Reports Record Sales Volume

    Written by Sandy Williams

    Reliance Steel and Aluminum reported a net income of $96.5 million for second quarter, up 11 percent from the previous quarter and 19 percent year over year. Sales were at a record $2.62 billion, up 2.5 percent on a quarterly basis.

    Improved metals pricing contributed to improved gross profit margins. Demand was below expectations with 1,539,800 tons sold, only a 0.5 percent increase from the first quarter. The average price per ton (all products) was $1,703 per ton. Carbon steel sales totaled 1,265,000 tons.

    Sandy Williams

    Read more from Sandy Williams

    Latest in Market Segment

    USS, USW to resume labor talks on Friday, union predicts progress

    The United Steelworkers (USW) union will meet with U.S. Steel (USS) on Friday as negotiations around terms of a new labor contract continue. The meeting comes after the USW and Cleveland-Cliffs, one of U.S. Steel’s competitors, agreed to a tentative labor agreement last week. “USS knows how this process works. They agreed to meet with us on Friday. The company knows they need to move, so this meeting should be productive,” the union said in a text to members on Wednesday.

    Steel market chatter: Tight supply, strong demand keep sheet prices climbing

    In this week's Market Chatter, steel buyers point to tight supply and steady demand as reasons sheet prices could keep rising, with many expecting HRC to reach $1,400-1,449 per short ton in two months. Views on when the rally will peak are mixed, with some anticipating further increases while others mention softening demand and political uncertainty. Respondents also disagree on tariffs' impact. They say reshoring is generating activity but has yet to translate consistently into demand.