Tag: service center

Reliance Inc. reported lower profits in the third quarter amid trade woes and abundant inventory in the market.

Joe 'Magic' was known across the industry as a remarkable salesman with a larger-than-life personality. In 1974, he founded a one-person steel brokerage operation in Michigan that would become Magic Steel.

Olympic Steel Inc. has appointed Larry N. Norred, Jr. to the role of general manager for its Buford (fabrication) and Winder (metal processing) operations in Georgia.

Canada's Nova Steel has fully acquired all of the assets of Ohio's Sheffield Steel Products.

Jack Biegalski, former president and CEO of American Heavy Plates, has been named the new CEO of the Esmark Steel Group.

National service center chain Olympic Steel has made an internal promotion to fill the newly created role of director of manufactured metal products.

The seven facilities Russel agreed to purchase are located in Iowa, North Carolina, Georgia, Texas, and Florida.

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.

A recurring theme in conversations with some of you and in the comments submitted in our surveys is concerns about demand and uncertainty around tariffs. Where does SMU’s latest opinion polling on President Trump’s tariffs stand? Let’s take a look at the numbers.

The chief executives from Majestic Steel, Olympic Steel, and Worthington Steel swapped notes on inventory discipline, customer trust, and the race to turn AI from hype into results.

Varsteel Ltd. announced two new strategic acquisitions. The Canadian service center stated that the acquisitions position it to meet a wider range of steel product needs.

Karla Lewis, president and CEO of Reliance Inc., told attendees of SMU’s Steel Summit 2025 that North America’s largest service center company is eyeing strategic opportunities in Mexico. 

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

Olympic Steel Inc. has promoted Vincent Anza to the role of general manager for its Milford, Conn., facility.

In July, US service centers’ flat-rolled steel supply increased month on month, following the seasonal summer trend of inventory build with slowing shipments.

Friedman Industries’ fiscal first-quarter earnings nearly doubled from a year ago.  

Russel Metals posted its strongest quarterly revenue in three years, fueled by higher steel prices, steady demand, and near-record shipments across its service center network.

Her insatiable curiosity and desire to solve complex problems remain at the forefront of O’Neal Steel President and CEO Jodi Parnell’s success in the steel industry. Parnell is as fluent in employee management styles as she is in managing successful client technology adoption.

Ryerson’s earnings slumped in the second quarter amid “recessed” demand.

Reliance Inc. reported record second-quarter tonnages, with 1.62 million tons sold in the second quarter of 2025, a 4% increase year over year (y/y).

Triple-S Steel Holdings has closed on its previously announced acquisition of American Stainless Tubing.

The owner of Liberty Steel and his family were among the six victims of a plane crash in Ohio on Sunday, according to local media reports.

Worthington Steel earnings rose while sales fell in its fiscal fourth quarter.

Friedman Industries' earnings increased in its fiscal fourth quarter ended March 31.

The Ohio-based steel processor is now the majority owner of Italy's Sitem Group, which has six manufacturing sites across Italy, Switzerland, Slovakia, and France.

“It was a little more of a seller's market as contractors seemed to be protecting themselves against a potential run up in prices," one buyer said.

While I would anticipate market sentiment to pivot and improve if all the questions around tariffs were answered, that still leaves us with a few other factors.

Flat rolled = 57.6 shipping days of supply Plate = 54.5 shipping days of supply Flat rolled US service centers’ flat-rolled steel supply edged up in April, as shipments slowed. At the end of April, US service centers carried 57.6 shipping days of supply, according to adjusted SMU data. This is up from 56.4 shipping […]

Germany’s Klöckner & Co. reported a narrower loss in the first quarter as the company targets becoming the “leading” service center and metal processing firm in North America and Europe by 2030.

Russel Metals’ earnings slipped in the first quarter, but the company is still eyeing service center acquisitions in the US.