Category: Distributors/Service Centers

Worthington Steel has exceeded the minimum share threshold for its acquisition of Kloeckner and Co.

Worthington Steel reported steady progress on its planned acquisition of Kloeckner & Co., calling the deal a major strategic step as steel markets show early signs of tightening in the US and remain under pressure in Europe.

Most steel buyers see prices continuing to inch higher on stable or improving demand. But some are concerned higher energy prices stemming for the Iran war could dent the overall economy.

Worthington Steel reporter lower FY Q3 earnings on what its CEO described as "challenging" macroeconomic conditions.

The galvanized sheet market continued to tighten in March as distributors and service centers reported firm demand, low inventory levels, and rising transportation costs. Participants on the monthly HARDI sheet metal and air-handling call on Wednesday described a market defined by constrained supply and steady upward pricing pressure.

SMU’s Mill Order Index (MOI) eased in February. The result came as a marginal increase in service center intake levels was offset by higher shipments, according to our latest service center inventories data.

Plate market sources say the week has been quiet, but that overall, business remains consistent.

As spot prices for hot- and cold-rolled coils edge higher, mill capacity utilization rates hover below 80%, raising concern among some market participants.  

Longview, Texas-based Friedman Industries announced it will increase the building's size and add fabrication capabilities, including laser-cutting equipment.

US service centers’ flat-rolled steel supply declined for a second consecutive month in February, with shipping days of supply slipping to 52.2 on an adjusted basis, according to SMU data.

Klockner & Co.'s North American business closed 2025 with its strongest fourth quarter on record, even as pricing and currency effects weighed on revenue. The update comes as Worthington Steel moves close to securing control of the German distributor through an ongoing public takeover bid.

This week sources said spot prices on hot-rolled coils increased modestly. 

Domestic plate market participants expressed confidence in the overall improvement of market conditions this week.  

Reliance Inc. announced two big US government contract wins from its wholly-owned subsidiary AMI Metals Inc.

Serviacero USA is set to establish its first US manufacturing operation after purchasing a rail-served site at the Gulf Inland Logistics Park in Houston.

Participants in the US hot- and cold-rolled sheet market cautiously called the week a win as prices inched north and demand picked up.  

Reuters on Monday quoted Worthington Steel President and CEO Geoff Gilmore as saying the company has alternative targets if its deal to acquire Germany-based service center group Kloeckner & Co. doesn't happen.

Sources in the domestic hot- and cold-rolled coil market said they are beginning to feel prices creeping up this week.  

Plate industry sources said the market has been characterized by three factors lately: fewer domestic mills willing to fulfill spot buys, inconsistent lead times, and erratic demand.

SMU’s Steel Demand Index slipped from earlier in the month, but remains above expansion territory, according to late-February indicators.

Ryerson Holding Corp. posted a loss in the fourth quarter and full-year 2025. But the Chicago-based service center group struck an optimistic tone as it began integrating Olympic Steel and is seeing early signs of a manufacturing rebound.

Participants in the domestic sheet market say they experienced lighter inquiries and fewer orders than in previous weeks, rendering domestic mill price increases for spot-market hot- and cold-rolled coils irrelevant.  

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

SMU’s Mill Order Index (MOI) rose again in January, maintaining momentum from the month prior. The increase came as service center intake levels ticked up, supported by a jump in shipments, according to our latest service center inventories data.

The galvanized steel market is navigating price increases and longer lead times with a surer footing than in prior months.  

Reliance Inc. reported record tons sold in 2025 as the company’s earnings improved in the quarter.

The final panel of last week’s Tampa Steel Conference brought together executives from three different service center, all of which were optimistic for 2026.

US service centers’ flat-rolled steel supply declined in January, after trending higher in December. Shipping days of supply slipped to 58.5 on an adjusted basis at the end of January, according to SMU data.

Ryerson Holding Corp. and Olympic Steel Inc. announced they have completed their blockbuster merger, boosting Ryerson’s position as the second-largest service center in North America.

The deal is expected to close Friday, Feb. 13.