Category: Distributors/Service Centers

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.

Premium SMU Content: 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. Flat roll supply eased in January after reaching its second-highest total for 2025 in December. The result is also a noticeable decline from 66.0 shipping days in January 2025, and a three-year low.

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.

Olympic Steel has named Matthew Grussing as vice president – fabrication.

Friedman Industries delivered a strong fiscal third quarter, posting sharp gains in sales, shipments, and margins across both its flat-rolled and tubular segments.

AZZ Inc. expects steady top-line growth and improved annual earnings, capitalizing on new capacity ramp-up and strong downstream demand.

SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]

O’Neal Industries (ONI) has announced changes to its top leadership. The Birmingham, Ala.-based family-owned metals service center group said the following appointments are effective immediately.

SMU interviews Worthington Steel CEO Geoff Gilmore about the recent Kloeckner & Co. buy.

What do SMU's latest survey results show about the current market take on tariffs and where HRC prices are going?

AZZ Inc. posted on its website that it had temporarily closed more than half a dozen locations in response to the extremely cold weather gripping much of the US.

US service centers’ flat-rolled steel supply recovered in December, after trending lower from September to November.

Worthington Steel has announced it will acquire Germany's Kloeckner & Co, creating second-largest steel service company in North America.

Heidtman Steel Products Inc. and Steel and Pipe Supply Co. have announced a joint venture called Granite City Processing LLC in Granite City, Ill., that commenced on Jan. 1.