Steel Products
NIM Group to Buy PlatePlus Tulsa Facility
Written by Michael Cowden
April 26, 2022
NIM Group has announced plans to acquire the PlatePlus Inc. facility in Tulsa, Oka.
The deal between the two service center groups is expected to close on April 29, NIM Group said.
It comes after NIM Group scooped up another PlatePlus facility in Windsor, Colo., earlier this year.
“We are pleased to welcome the Tulsa team to the NIM Group family,” said Arnie Robinson, president and COO of NIM Group. “This facility, located in the Tulsa Port of Catoosa, is a strategic investment that aligns well with our long-term growth strategy.”
Terms of the deal were not disclosed.
The addition of the Tulsa plant means NIM Group will have 18 locations stretching across the US.
NIM Group – which is one of the largest family-owned steel service centers in the US – is also the parent of Norfolk Iron & Metal, Metalwest, and Cd’A Metals.
Plateplus, also a service center, specializes in processing hot-rolled steel coils into sheet and plate products.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Products
Final Thoughts
The difference: The spat with Turkey was a big deal for steel. This time, the 50% reciprocal tariff for Brazil – if it goes into effect as threatened on Aug.1 – hits everything from coffee and to pig iron. It seems almost custom-built to inflict as much pain as possible on Brazil.
CRU: US rebar and wire rod prices rise alongside S232 increase
CRU Senior Steel Analyst Alexandra Anderson discusses current market and pricing dynamics for long steel products in the US.
CRU: Excessive global supply could hit rebar mill investments in US
Following the onset of the war in Ukraine in March 2022, concerns about import availability and expectations of rising demand from President Biden’s Infrastructure Bill pushed US rebar prices to record highs. In response, a flurry of new mills and capacity expansions were announced to meet the rise in demand from growth in the construction […]
Steel buyer spirits tempered by soft spot market conditions
Steel sheet buyers report feeling bogged down by the ongoing stresses of stagnant demand, news fatigue, tariff negotiations or implementation timelines, and persistent macroeconomic uncertainty.
CRU: US stainless prices to rise on expanded S232 tariffs
Stainless prices in the US market will rise, following price increases by major US producers. Our base case scenario incorporates higher US prices in the near term, despite the initial negative reaction by the market. US stainless prices will go up in 2025 H2 and will stay elevated in 2026 as tariffs on stainless […]