Steel Mills

Olympic Steel Shows Strength in Q1
Written by Sandy Williams
May 2, 2018
Olympic Steel reported that net sales jumped 12 percent year-over-year to $335 million in first quarter after all three of its operating segments reported double-digit growth.
“Accelerating shipments and rising prices throughout the first quarter resulted in our highest operating income in any quarter since 2011,” said Chairman and CEO Michael Siegal. Operating income increased 12 percent to $12.3 million compared to first-quarter 2017 and net income was $7.6 million.
Olympic Steel is encouraged by the long-term demand trends of its end markets. Construction equipment remains very strong and increasing activity is evident in the agriculture and transportation equipment markets.
“As we move through a busy spring season, shipping volumes and metal prices remain elevated, setting the stage for a strong first half,” Siegal said.
Olympic Steel included in its pricing outlook the one month extension of the Section 232 tariff exemptions and growing list of tariff requests.
Olympic shipped 297,604 tons of carbon flat products at an average selling price of $809 per ton in first quarter compared to $714 per ton a year ago.
The company acquired Berlin Metals, a distributor of tin mill products with a growing stainless steel business, at the end of the first quarter. Construction is underway for a new building to house a stainless steel cut-to-length line for Olympic’s Schaumburg, Ill., facility. Production is slated to begin in early 2019. A new long bed tube laser line was installed at CTI to accommodate growing processing opportunities. A refurbished third stainless steel slitter recently became operational in Streetsboro, Ohio.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Atlas completes Evraz NA deal, renames firm, and hires former USS exec as CEO
Atlas Holdings has completed its acquisition of Evraz North America (Evraz NA) and its subsidiaries.

ArcelorMittal: As tariffs slow global growth, Calvert could be a bright spot
ArcelorMittal expects less demand growth across most of the markets it operates in, including the US, because of President Donald Trump’s tariffs. But the Luxembourg-based steelmaker also thinks it stands to benefit from an increasingly regionalized world thanks to investments like the new EAF at its mill in Calvert, Ala.

Ternium posts solid Q2, expects further shipment growth
Latin American steel producer Ternium delivered a solid performance in the second quarter of 2025. Performance was driven primarily by higher realized steel prices in Mexico, even as shipment volumes declined slightly across its regional portfolio.

Algoma swings to loss on ‘unprecedented disruptions’ and trade barriers
Canada’s Algoma Steel saw a sharp loss in the second quarter amid a continued challenging market environment and “tariff uncertainties.”

Nucor eyes long-term gains amid strong demand and trade enforcement
Resilient demand across its steel product lines, combined with the continued ramp-up of key expansion projects, drove Nucor’s improved financial results and record-setting performance in the second quarter. That’s according to company executives speaking on an earnings conference call on Tuesday.