Steel Mills

Ryerson Announces Solid Third Quarter
Written by Becca Moczygemba
November 3, 2022
Just a day after announcing its acquisition of West Coast fabrication and machining company Excelsior, Ryerson reported solid third quarter earnings results on Thursday, Nov. 2.
Despite decreasing metal prices and declining industry demand, the Chicago-based service center group maintains a positive outlook. “Ryerson delivered strong operational and financial performance,” said Eddie Lehner, Ryerson president and CEO “Ryerson is now in a historically strong position to reinvest in the modernization and growth of our intelligent and connected service center network, while continuing to provide returns to shareholders.”
Driven primarily by lower selling prices, Ryerson’s Q3 revenues of $1.54 billion were a decline of 11.5% from Q2’s $1.74 billion and were 2% lower year-over-year. When compared to Q2, average selling prices declined 9.4% while total volumes of 512,000 tons dropped 2.3%. Q3 carbon steel shipments of 405,000 tons were down 0.7% from the prior quarter but up 1.5% YoY.
The pivot to operating under counter-cyclical conditions in Q3 has prepared Ryerson to continue into what they expect to be the same conditions in Q4. “Benchmark carbon, aluminum, and nickel price decreases are anticipated to continue into the fourth quarter while sales volumes experience slow-down driven by seasonal declines in buying as well as decelerating economies in North America, Europe, and China,” the company stated the earnings release.
Revenues in Q4 are anticipated to be down to $1.25 billion to $1.30 billion, with average selling prices decreasing 7–11%,and shipments declining 8–10%.
By Becca Moczygemba, Becca@SteelMarketUpdate.com

Becca Moczygemba
Read more from Becca MoczygembaLatest 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.