Distributors/Service Centers
May 1, 2025
Written by Stephanie Ritenbaugh
(in millions of dollars except per share)
| First quarter ended March 31 | 2025 | 2024 | % Change |
|---|---|---|---|
| Net sales | $1,135.7 | $1,239.2 | -8.4% |
| Net earnings (loss) | $(5.3) | $(7.4) | 28.4% |
| Per diluted share | $(0.18) | $(0.22) | 18.2% |
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.
The results of the latest SMU flat-rolled market survey are now available on our website to all premium members.
Service centers and manufacturers on the Sept. 15 HARDI Sheet Metal and Air Handling Council call described a tight, seller-driven market. Lead times are long, deliveries are late, inventories are thin, imports are down, and demand is strong, causing a shortage of galvanized material. SMU regularly joins the council’s meetings to discuss the galvanized sheet market. Participants — members of Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) — are wholesalers, service centers, distributors, and manufacturers who buy or sell galvanized steel.
US service centers’ flat-rolled steel supply declined in August, making the marginal gain the month prior an outlier year-to-date. Shipping days of supply slipped to 44.2 in August, according to SMU data.
Carolina Heavy Steel is set to establish heavy steel processing, fabrication, and coating operations in Ridgeville, S.C.