Category: Service Centers

Olympic Steel said it's open to future acquisitions in all three of its business segments.

Olympic Steel’s earnings jumped in the fourth quarter, even as the company dealt with "significant" price volatility in hot rolled for full-year 2023.

Ryerson swung to a net profit in the fourth quarter, though revenue declined from the same period last year.

Friedman Industries posted lower earnings in its fiscal third quarter but was upbeat on the next quarter due to the effect of increased hot-rolled coil prices.

Reliance Inc. – formerly Reliance Steel & Aluminum Co. – introduced its “new company identity” that emphasized its “evolution to more than steel,” the company said in its fourth-quarter and full-year earnings report.

Reliance has entered into an agreement to purchase Houston-based American Alloy Steel Inc. for an undisclosed sum.

Prices for galvanized products have been falling for more than a month, and market participants expect this trend to continue in the near term.

Russel Metals has invested a lot in recent years, and it’s not done yet.

Reliance Steel & Aluminum Co. announced on Feb. 2 that it has acquired Tifton, Ga.-based Cooksey Iron & Metal Co.

Norfolk Iron & Metal is installing a new Butech Bliss temper mill cut-to-length line at its Port of Catoosa processing facility near Tulsa, Okla.

Thyssenkrupp Materials de México is opening a new service center in San Luis Potosí.

Coming out of a strong fourth quarter, galvanized steel market participants are reporting an above-average start to January and are cautiously optimistic for 2024.

Flat rolled distributor Mill Steel Co. announced the appointment of a new CFO on Jan. 9.

Olympic Steel has promoted Zachary Siegal to the newly created role of president of manufactured metal products.

The newly separated Worthington Steel noted improved earnings in its fiscal second-quarter results.

Canadian metals distributor Russel Metals Inc. plans to acquire Samuel, Son & Co.’s carbon plate service center operations in Western Canada and the US for roughly $225 million.

Friedman Industries was hit by falling steel prices in its fiscal 2024 second quarter ended Sept. 30, 2023, but anticipates improvement in its financial results for the remainder of the fiscal year.

Worthington Industries said on Thursday its board of directors has approved the previously announced separation of its Steel Processing business, Worthington Steel Inc.

Canadian metals distributor Russel Metals reported lower earnings in the third quarter as the company “navigated through volatile market conditions.”

Olympic Steel’s earnings edged up in the third quarter vs. a year earlier, though sales declined due to lower metal pricing, the Cleveland-based metals service center said.

Brown Strauss Steel has acquired Black Diamond Pipe & Tube Inc. of Peotone, Ill., just south of Chicago.

Arkansas-based metals processor Boyd Metals, is expanding its footprint at its Little Rock, Ark., facility.

Klöckner & Co. said it has agreed to acquire South Carolina-based fabricator Industrial Manufacturing Services (IMS) through US subsidiary Kloeckner Metals Corp.(KMC).

Ryerson Holding Corp, has acquired non-ferrous metals distributor TSA Processing.

Klöckner & Co. posted a narrower net loss in the third quarter as the Duisburg, Germany-based service center group touted the expansion of its North American footprint.

Grand Rapids, Mich.-based carbon flat-rolled steel distributor Mill Steel Co. has appointed Kip Craddick as its new VP of sales.

Ryerson saw lower sales and shipments in the third quarter and is anticipating further declines in the last quarter of the year.

SMU’s Current and Future Steel Buyers Sentiment Indices both increased this week, based on our most recent survey data. Every other week we poll steel buyers about sentiment. The Steel Buyers Sentiment Indices measure how steel buyers feel about their company’s chances of success in the current market, as well as three to six months down the road. We have historical data going back to 2008. Check our interactive graphing tool here.

Reliance Steel & Aluminum is anticipating overall demand to remain healthy through year’s end despite some weakening in some sectors and normal seasonality.

Ranger Steel Services has acquired the steel operations of Detroit-based heavy plate distributor Nance.