Tag: service center

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.

Most buyers expect prices to rise slightly in the short term or remain flat. But many qualify this view as transitory or dependent on demand improvements. 

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

Sheet prices mostly ticked higher again this week. And the reasons shouldn’t come as a big surprise to anyone who has been reading SMU lately.

Flat rolled = 50.6 shipping days of supply Plate = 52.8 shipping days of supply Flat rolled US service centers’ flat-rolled steel supply declined for the fourth straight month, reaching 50.6 shipping days of supply on an adjusted basis at the end of November, according to SMU data. Flat roll supply is at its lowest […]

US plate market participants hope the new year will bring favorable market conditions. But they remain leery of making big purchases because of lingering uncertainty.

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.

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

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.

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.

Flack Global Metals (FGM) announced Thursday that it would expand into Texas by assuming the Houston operations of NSPS Metals.

Executives framed the all-stock deal as a path to scale, efficiency, and long-term growth despite ongoing weakness in the metals market.

President and CEO Eddie Lehner said Ryerson has faced market headwinds in the third quarter.

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.