International Steel Prices
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 International Steel Prices
S232 tariffs keep US HR prices below imports from EU
Hot-rolled (HR) coil prices in the US ticked down this week but have fluctuated little over the past month. Stateside tags continue to trail imports from Europe, supported by Section 232 steel tariffs that were doubled in early June.
Doubled S232 tariff holds US HR prices below EU
David Schollaert presents this week's analysis of hot-rolled coil prices, foreign vs. domestic.
Higher US CR prices inch closer to EU, Japanese tags
US cold-rolled (CR) coil prices continued to tick higher this week, while offshore markets were mixed.
Stacked S232 keeps US HR prices below EU
US hot-rolled coil prices crept up again this week but still trail imports from Europe.
Doubled S232 lifts EU, Japanese CR prices over US tags
US cold-rolled (CR) coil prices edged up again this week, and most offshore markets moved in the opposite direction. But the diverging price moves stateside vs. abroad did little to impact pricing trends. The bigger impact was from Section 232, which were doubled to 50% as of June 3. The higher tariffs have resulted in […]