Overseas
Mill Steel Expands Into Aluminum, Stainless With Acquisitions
January 18, 2023
Mill Steel Co. has acquired Cleveland Metal Exchange (CME) and Chicago Stainless Metal Exchange.
A full line of stainless steel and aluminum products is now available through the Mill Steel Stainless and Aluminum division led by former CME CEO, Randy Horvat, and president, Jeff Haas.
“We are thrilled to be entering the stainless and aluminum industry. This was an easy decision made by our customers and supports our plans for continued growth,” Pam Heglund, CEO of Mill Steel, said in a statement.
The flat-rolled distributor said it will immediately assume steel processing and supply for CME’s manufacturing, automotive, and construction industry customers in the southeastern, mid-South and western United States.
This represents the Grand Rapids, Mich.-based Mill Steel’s largest acquisition to date. Details of the transaction, which closed Tuesday, were not disclosed.
By Ethan Bernard, Ethan@SteelMarketUpdate.com
Latest in Overseas
Price gap between US HRC, most imports narrows slightly
In dollar-per-ton terms, US product is on average $141/st less than landed import prices (inclusive of the 50% tariff). That’s down from $148/st last week.
Gap between US HR prices and imports widens
SMU’s average price for domestic HR coil moved $5 higher this week, while price movements in offshore markets varied. This dynamic...
Gap between US HR prices, imports narrows
SMU’s average price for domestic hot-rolled (HR) coil was $800 per short ton (st) this week, up $5/st week on week (w/w). In offshore markets last week, prices were varied.
Gap between US HR prices, imports little changed
SMU’s average price for domestic hot-rolled (HR) coil was $795 per short ton (st) this week, sideways week on week (w/w). The move was different in offshore markets last week, as prices eased marginally.
Gap between US HR and landed import prices starts to narrow
The price gap between stateside hot band and landed offshore product narrowed this week. Still, with the 50% Section 232 tariff, most imports remain much more expensive than domestic material.