Category: Distributors/Service Centers

Sources expect the recent spot market price hikes on domestically produced plate products to be accepted by the market.  

SMU’s latest steel buyers market survey results are now available on our website to all premium members.

Triple-S Steel Holdings has acquired Galveston service center Industrial Material Corp.

Flack Global Metals announced two leadership appointments to drive the commercial strategy of the Scottsdale, Ariz.-based service center and industrial platform.

SMU’s Mill Order Index (MOI) surged in October after a notable decline the month prior. The recovery came as service center on order inventory totals picked up, supported by a slight uptick in shipments, according to our latest service center inventories data.

US service centers’ flat-rolled steel supply edged lower for the third straight month, reaching 53.3 shipping days of supply on an adjusted basis at the end of October, according to SMU data.

Flat-rolled metals processor and pipe manufacturer Friedman Industries achieved record sales volume in its fiscal second quarter.

Russel Metals posted mixed financial results in its third-quarter earnings report. The Mississauga, Ontario-based metals processing and distribution company generated Canadian $35 million (US$53.5 million) in net income for Q3'25, representing a 1.4% increase from the same quarter in 2024.

North America continues to anchor Klöckner & Co.’s performance in 2025. The Kloeckner Metals Americas segment delivered robust earnings in the third quarter despite softer steel prices.

SMU’s Mill Order Index declined in September after repeated gains from June through August. The shift came as service center shipping rates and inventories fell.

Executives framed the all-stock deal as a path to scale, efficiency, and long-term growth despite ongoing weakness in the metals market.

Olympic Steel reported a decline in third-quarter earnings on Tuesday, as the company separately announced its merger with service center giant Ryerson.

National service center chains Ryerson Holding Corp. and Olympic Steel Corp. have announced a merger between the two companies.

President and CEO Eddie Lehner said Ryerson has faced market headwinds in the third quarter.

Reliance Inc. reported lower profits in the third quarter amid trade woes and abundant inventory in the market.

Olympic Steel Inc. has appointed Larry N. Norred, Jr. to the role of general manager for its Buford (fabrication) and Winder (metal processing) operations in Georgia.

Canada's Nova Steel has fully acquired all of the assets of Ohio's Sheffield Steel Products.

AZZ Inc. delivered steady results in its fiscal second quarter. While infrastructure-heavy work buoyed its Metal Coatings segment, its Precoat Metals business navigated softer building markets and tariff-driven uncertainty.

Jack Biegalski, former president and CEO of American Heavy Plates, has been named the new CEO of the Esmark Steel Group.

National service center chain Olympic Steel has made an internal promotion to fill the newly created role of director of manufactured metal products.

The seven facilities Russel agreed to purchase are located in Iowa, North Carolina, Georgia, Texas, and Florida.

German service center Klöckner and Co. has agreed to sell seven of its US locations to Canadian service center Russel Metals Inc. for approximately $119 million, the companies said in press releases on Sunday.

Worthington Steel saw a strong first quarter to kick off its fiscal 2026 as both profits and sales notched increases.

The American Iron and Steel Institute (AISI) has added Worthington Steel to its membership roster and elected Geoff Gilmore, president and chief executive officer of the steel processor, to its board of directors. 

JD Fields HDM Spiralweld Mill is planting roots at Tradepoint Atlantic with a 200,000-square-foot pipe pile fabrication center.

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.

Steel industry analysts at this year's SMU Steel Summit said they see lackluster demand through this year and next.

Varsteel Ltd. announced two new strategic acquisitions. The Canadian service center stated that the acquisitions position it to meet a wider range of steel product needs.

Karla Lewis, president and CEO of Reliance Inc., told attendees of SMU’s Steel Summit 2025 that North America’s largest service center company is eyeing strategic opportunities in Mexico. 

Galvanized steel prices dipped to ~$48/hundredweight in August from the $50-59/hundredweight range during the month of July.