Tag: Distributor

Ryerson Holding’s third-quarter sales and net income rose as shipments outperformed the company’s seasonal expectations. Management pointed to demand from data centers and power generation projects, gains in transactional business, and improving contract volumes, while describing demand across end markets as uneven. Chicago-based Ryerson’s latest earnings report released on Thursday shows third-quarter sales rose 8.6% sequentially to $2.18 billion. Shipments rose 1.2% despite the company's guidance for a seasonal decline. Net income attributable to Ryerson was $32 million, compared with $15.5 million in the second quarter. Compared with last year, sales were 87.5% higher and net income rose 316.2%.

Varsteel Ltd. has acquired two additional steel and aluminum service centers in Canada. The Lethbridge, Alberta-based company has added to its portfolio Acier Simmonds of Sherbrooke, Quebec, and Acier Menard of Granby, Quebec. The acquisition builds on Varsteel’s three most recent acquisitions and further expands its market presence in Quebec.

Worthington Steel said tight US steel supply, low imports, and extended lead times constrained shipments and quoting opportunities during its first fiscal quarter, even as the conditions supported pricing and spread sustainability.

Worthington Steel reported a surge in sales in its first quarterly results to include the Kloeckner acquisition, but the company posted a net loss as the acquisition reshaped its sales and operating mix.

Fresh off SMU Steel Summit 2026, we are already looking ahead to Tampa. Join industry peers on March 7–9, 2027, for the 38th annual Tampa Steel Conference in Tampa, Florida. The event brings together steel producers, distributors, service centers, ports, logistics providers, and market experts to connect, exchange perspectives, and take the pulse of the […]

Private equity firm SCF Partners announced it has acquired American Piping Products (APP), a pipe and tube distributor headquartered in Chesterfield, Mo.

Totten Tubes has opened a new facility in Cedar City, Utah. The steel tubing distributor and processor, based in Azusa, Calif., recently celebrated the facility’s grand opening.

FabArc Steel Supply has provided 3,374 tons of steel to a large solar project in Rockdale, Texas. The Oxford, Ala.-based steel subcontractor supplied the material for G2_Austin Solar Cell Fab, a solar cell operation in Rockdale, northeast of Austin. The project is owned by energy solutions provider T1 Energy Inc., and the first phase represents a $400 to $425 million investment. It’s expected to create up to 1,800 manufacturing jobs in Milam County, Texas.

Tight steel availability and lean inventories are increasing pressure on US service centers, according to speakers on a service center panel on Wednesday, August 26, at the SMU Steel Summit 2026.

Lindsay Goldberg, a private investment firm specializing in family-owned and founder-led businesses, will make a significant strategic investment in Alro Steel.

Russel Metals posted record quarterly revenues and shipments in the second quarter, boosted by strong market conditions and the integration of seven Kloeckner Metals Co. facilities.

Limited spot product and extended lead times continue to characterize the domestic plate market, prolonging upward price pressure.

During Worthington Steel’s fiscal fourth-quarter earnings call on June 25, company executives cited interest rates as a market headwind.

Galvanized sheet buyers and distributors report that strong demand and constrained supply persist, exerting upward pressure on prices.

A profile of Hascall Steel's Ava Hascall.

SMU’s Mill Order Index recovered in May, reclaiming some momentum lost the month prior.

Friedman Industries posted record sales, higher volumes, and sharply improved earnings in fiscal 2026. This was driven by stronger demand, higher average selling prices, and continued contributions from its Century Metals acquisition.

Market participants report frustration with extending lead times for domestically produced plate products.  

Galvanized steel buyers and distributors expect tightening supply and rising price pressure to last into summer.

CFO Martin Jurasek described the first quarter as a “positive inflection point” as strategic initiatives, including the recent Kloeckner acquisition, began to materially lift results.

Russel Metals’ earnings jumped in the first quarter as it reported record quarterly shipments and revenue.

Ferrosource LLC, a distributor of ferrous metals, is nearing completion of its steel processing facility on the campus of Big River Steel Works (BRSW) in Osceola, Ark. Operations are set to begin in August.

Market sources say 2026 could be a stronger year for plate market participants than 2025 if this week’s conditions are indicative of how the rest of the year plays out.  

Recent conversations with plate market participants across the US revealed a wide range of experiences contingent on a variety of factors.  

SMU survey respondents sound off on a host of issues affecting the steel industry.

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.

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.

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.

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.

Mill Steel Co. announced it is relocating its Houston operations to a bigger facility at the Port of Houston.