Category: Distributors/Service Centers

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.

The galvanized steel market has kicked off the year with a firmer tone, marked by rising prices, lengthening lead times, and a noticeable shift in buyer sentiment. Service centers and distributors on HARDI’s latest sheet metal and coil handling council call described a market that is not overheating but steadily tightening.

Greer Steel Co. has been purchased by Mutares SE & Co., an international private equity holding company based in Munich.

Sources in the domestic hot-rolled sheet market say they are standing by for an uptick in customer demand. These service center market participants, located in various regions of the US, expect to handle an influx of customer orders this month. 

Kloeckner Metals Corp. announced that beginning Jan. 1, 2026, the former Bauer Built Manufacturing site in Paton, Iowa, would lead all its commercial, manufacturing, and other operational activities. 

The Chicago Business Barometer increased in December after hitting an 18-month low in November, according to Market News International (MNI) and the Institute for Supply Management (ISM)

The Mississauga, Ontario-based metals distributor is now the owner of Kloeckner's facilities in Dubuque, Iowa; Charlotte, N.C.; Suwanee, Ga.; Houston; Austin, Texas; Jacksonville, Fla.; and Pompano Beach, Fla.

Independent service center Promet Steel Inc. has acquired Heidtman Steel Products' facility in East Chicago, Ind. Terms of the deal, which closed on Dec. 15, were not disclosed.

SMU’s Mill Order Index (MOI) declined in November after surging the month prior. The fall came as service center intake levels sharply declined, supported by a cut in shipments, according to our latest service center inventories data.

Worthington Steel executives emphasized on an earnings conference call on Thursday that the company’s standout fiscal Q2 performance came from capturing new automotive business, with direct automotive shipments rising 26% year over year.

Worthington Steel reported higher profits and sales in its fiscal second quarter of 2026.

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

Triple-S Steel Holdings and a European partner have taken a major equity stake in Zimmer Staal, a steel distributor based at the Port of Antwerp in Belgium.

Worthington Steel is in talks to possibly take over German-based service center chain Klöckner & Co. SE, both companies have confirmed.

Canadian service center Varsteel Ltd. has acquired Victoria Steel (also known as Acier Victoria) of Victoriaville, Quebec.

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.