Steel Mills

Ryerson Acquires SMP to Beef Up Stainless, Specialty Offerings
Written by Michael Cowden
September 8, 2021
Ryerson has acquired Specialty Metals Processing (SMP) as it looks to expand its value-added offerings and its presence in the stainless arena.
Stow, Ohio-based SMP toll processes stainless steel, aluminum, titanium and nickel alloy products for specialty markets such as aerospace, Ryerson said.
It also offers expertise in buffing, grinding and polishing, the Chicago-based service center said.
Terms of the deal were not disclosed.
“We are pleased to welcome SMP to the Ryerson Family of Companies as a recognized leader in toll processing,” Ryerson President and CEO Eddie Lehner said in a statement.
By Michael Cowden, Michael@SteelMarketUpdate.com

Michael Cowden
Read more from Michael CowdenLatest in Steel Mills

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.

Three independent, new directors join USS board
U.S. Steel (USS) appointed three new, independent US members to its board of directors, the company announced.

Nucor reports improved earnings, sales, and operating rates
Nucor reported a sharp sequential rebound in the second quarter, buoyed by improved pricing and strong shipments. But the steelmaker is bracing for a modest slowdown in the months ahead.

Cliffs confirms Cleveland furnace restart, Dearborn furnace idling
Cleveland-Cliffs is idling blast furnace, BOF shop, and continuous caster functions at its Dearborn plant, but downstream operations will remain unaffected, the company confirmed. Cliffs said its pickling line tandeom cold mill (PLTCM) and its extra wide automotive-grade galvanizing line for exposed parts will continue operations at the Dearborn, Michigan-based facility.

Nucor spot HR list price unchanged at $900/ton
Nucor maintained its weekly list price for hot-rolled (HR) coil flat this week, following a price cut the previous week.