Distributors/Service Centers
September 28, 2023
Written by Michael Cowden
| First fiscal quarter ended Aug. 31 | 2023 | 2022 | % Change |
|---|---|---|---|
| Net sales | $1,193.3 | $1,408.7 | -15.3% |
| Net earnings | $96.1 | $64.1 | 49.9% |
| Per diluted share | $1.93 | $1.30 | 48.5% |
US sheet buyers have grappled with supply scarcity in both the spot and contract markets throughout 2026. Now the supply squeeze is spilling over into 2027, according to market participants.
SMU’s Mill Order Index (MOI) accelerated in August for a fourth consecutive month, reaching its strongest reading in nearly five years.
Tk accelis announced the launch of a new B2B steel buying and selling marketplace called steelbuy USA.
Private equity firm SCF Partners announced it has acquired American Piping Products (APP), a pipe and tube distributor headquartered in Chesterfield, Mo.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.