Features

Steel Summit: Service center CEOs share straight talk on markets, customers, future
Written by Laura Miller
September 4, 2025
Steel service center leaders didn’t mince words at this year’s SMU Steel Summit in Atlanta.
The chief executives from Majestic Steel, Olympic Steel, and Worthington Steel swapped notes on inventory discipline, customer trust, and the race to turn AI from hype into results.
The conversation on the last day of the Summit moved fast – from reshoring realities to market bright spots. The leaders agreed that, in a business built on relationships, timing, and grit, the winners will be those who adapt without losing sight of the fundamentals.
Service center shop talk
The panel kicked off with a look at service center inventories. July numbers ticked up slightly from June but stayed below last year.
Worthington Steel President and CEO Geoff Gilmore said it’s both things moderator David Schollaert noted – uncertainty keeping some cautious, while others “are loading up on inventory and making a significant buy.”
Olympic CEO Rick Marabito noted that July is typically a slower shipping month, and discipline is crucial.
Todd Leebow, president and CEO of Majestic Steel, reminded the room, “We’re in the business of inventory management … you can’t not have steel for your customers… It’s our job to make sure that we can provide our customers the service they need and at the cost that makes sense to their business.”
“I don’t mind uncertainty,” Gilmore added. “These times often yield to opportunities for market share for those that aren’t doing a good job. But that’s our job. That’s why we’re here.”
Marabito added that service centers have to be really good at managing inventory in the supply chain, “or you won’t be here.”
“That’s why you mills need to just stay out of our space,” Gilmore added, referencing other Summit questions about mills potentially acquiring service centers.
Managing customers in choppy waters
Price swings and short lead times make life tricky for service centers.
Marabito stressed relationships and trust: “We’re successful when our customers are successful.”
Leebow said it’s about knowing “their supply chain friction” and solving for it.
Gilmore said he pushes his team to “know the customer’s business as well as they know it.”
All agreed – daily conversations and deep understanding keep customers steady when the market isn’t.
AI moves from buzzword to tool
When the conversation shifted to AI, Leebow joked he could be “Chief AI Officer” and said Majestic uses it for cost control, efficiency, and revenue.
Marabito said Olympic has formed an innovation committee to identify pilot projects, with safety as the primary focus.
Gilmore said he’s gone all-in, hiring a VP of AI and digitalization, running pilots in supply chain, operations, and commercial. He even “created my own board of directors” in ChatGPT to stress-test strategy, he said.
The message: AI is here, and the winners will use it fast and smart.
Reshoring, outsourcing, and the long game
On reshoring, no one has seen a tidal wave yet.
Gilmore expects “some” movement and foreign investment, while Leebow tied investment to incentives like bonus depreciation and lower rates.
Marabito said Olympic has seen more outsourcing than reshoring, with customers asking Olympic to do things that they themselves have done previously, driven by post-Covid supply chain lessons.
All three want stronger North American supply chains and steady GDP growth over 2%. Demand growth, they agreed, is the real prize.
Opportunities and pressure points
Gilmore said automotive remains a strong end market for Worthington, while agriculture is in a trough.
Olympic is growing aluminum sales and riding the data center build-out, according to Marabito.
Majestic is seeing mixed results by region and market. Partnerships with mills matter, but so does consolidation in the service center space. As Leebow put it, “No one wins a bloodbath.”
The right partnerships, fewer players, and less speculation could mean more stability, the leaders said.
People, patience, passion
Asked for advice they would give to their younger selves, Gilmore said, “Be patient and pace matters.”
Marabito pointed to perseverance.
Leebow’s word was “passion” – never lose it, because “every truckload that goes out the door is building something.”
On AI and automation, all stressed it’s about augmenting people, not cutting them out.
And yes, tariffs will still be a topic at next year’s SMU Steel Summit, according to the panelists; however, perhaps with greater clarity and a better understanding of how to translate policy into opportunities.

Laura Miller
Read more from Laura MillerLatest in Features

Final Thoughts
I’ve been getting some calls lately from some of you who want to kick around ideas on where prices might bottom and when.

SMU Survey: Sheet and plate lead times hold steady
Sheet and plate lead times held steady yet again this week, according to steel buyers responding to our latest market survey, a trend in place since May.

ITC votes to keep HR duties after sunset review
The US government determined this week that hot-rolled steel imports from a handful of countries continue to threaten the domestic steel industry.

SMU Survey: Most buyers say mills remain negotiable on prices
The majority of steel buyers responding to this week’s market survey continue to report that mills are open to negotiating spot prices on sheet and plate products.