SPS acquires Jemison Metals
SPS Companies has acquired Jemison Metals, a carbon flat-roll service center and fabricator headquartered in Birmingham, Ala., from Jemison Investment Company.
Tag: Service Center
Ryerson Q2 earnings soar as executives laud Olympic merger
Ryerson's profits skyrocketed in the second quarter as company executives touted the initial results following the integration of Olympic Steel.
Triple-S buys Camden Yards Steel
Privately owned service center group Triple-S Steel has announced its acquisition of Camden Yards Steel Co., effective July 21.
Reliance lauds US reshoring investments
Reliance Inc said that US government industrial policies contributed to its second-quarter financial success.
Reliance finds competitive advantage amid suboptimal market conditions
Strong steel prices and elevated interest rates may be reshaping the competitive landscape among metals distributors.
Reliance logs higher Q2 profits, boosted by border wall project
Reliance Inc.'s earnings improved in the second quarter, boosted by a US government project for the border wall with Mexico.
Plate spot market absorbs price hikes amid booming demand
Spot market absorbs price hikes amidst booming plate demand
HR buyers foresee bullish market through the second half of 2026
Some hot-rolled coil market participants said they're optimistic that the market will remain strong throughout the rest of the year.
June service center shipments and inventories report
US service centers’ flat-rolled steel supply was down marginally in June, and lower for a sixth straight month. Shipping days of supply slipped to 44.5, according to SMU data.
Worthington declares opening of delisting offer period for Kloeckner shares
Worthington Steel has opened the acceptance period for its public delisting tender offer for all outstanding Kloeckner & Co SE shares.
Final Thoughts: Is a week of flat prices and lead times signal or noise?
If a trend of flat lead times holds, it would represent a change. And we’ve also seen a few of the other indicators we track slip from historic highs – so the potential shift is worth paying attention to.
Varsteel continues acquisition spree
Canada’s Varsteel Ltd. has acquired Acier Quebec-Maritimes Inc., a steel and aluminum service center in Riviere-du-Loup, Quebec.
Plate market conditions continue to bolster prices
Limited spot product and extended lead times continue to characterize the domestic plate market, prolonging upward price pressure.
Target Steel expands into Mexico
Target Steel and Target Metal Blanking are expanding into Mexico.
SMU Survey: Foreign steel interest rises in pockets
North American steel buyers are navigating a market where demand is firming, but import activity remains cautious. Buyers reported mixed import activity in SMU’s June 26 flat-rolled steel buyers’ survey.
FGM streamlines operations under one brand
Flack Global Metals (FGM) has consolidated Pacesetter Steel Service under the FGM brand, finalizing the group’s formal transition, the company said on Friday.
Sheet buyers say high prices, tight supplies could invite imports
Some hot-rolled coil buyers expect continued incremental price increases from domestic mills. Others expect steeper increases, even if it risks inviting imports.
Worthington Steel flags interest rates, outlines debt reduction plans
During Worthington Steel’s fiscal fourth-quarter earnings call on June 25, company executives cited interest rates as a market headwind.
Worthington swings to fiscal Q4'26 loss
Worthington Steel swung to a loss in its fiscal fourth quarter as the company completed its acquisition of Germany-based Kloeckner & Co.
Some plate market sources see spot price increases ahead
Participants in the domestic plate market anticipate incoming price notifications before the end of the month, SMU learned in recent conversations.
HARDI: Galvanized market finds strong prices, consistent demand
Galvanized sheet buyers and distributors report that strong demand and constrained supply persist, exerting upward pressure on prices.
Leeco Steel makes regional operations manager changes
Leeco Steel has announced changes to two regional operational manager positions.
SMU Profile: Ava Hascall keeps steel in the family
A profile of Hascall Steel's Ava Hascall.
HR market sources content with contract volumes, seeking out spot
Hot-rolled coil market participants report little disruption to their contact volumes, finding timely spot HR proved less straightforward, some sources told SMU.
HR Futures: Market sees longer rally, higher peak
The US HRC futures curve has continued to move higher, particularly in the deferred months, suggesting the market is pricing a slower return to balance.
Plate market sources warn availability squeeze has knock-on effects
Some domestic plate market participants recently voiced concerns that current market conditions will impact fabrication and manufacturing, which rely on steady product supply.
SMU's Mill Order Index accelerates in May
SMU’s Mill Order Index recovered in May, reclaiming some momentum lost the month prior.
Final Thoughts: Q4 peak or strong into 2027 (and beyond)?
SMU released May service center inventories on Monday. And if you’re a premium subscriber, I recommend reading the report (here) if you haven’t already.
May service center shipments and inventories report
US service centers’ flat-rolled steel supply declined for a fourth straight month in May, with shipping days of supply slipping to 44.7 on an adjusted basis, according to SMU data.
Final Thoughts: What summer doldrums?
Summer doldrums? Not this year! SMU’s latest steel market survey indicates that an increasing number of steel buyers think prices will continue to rise along with the mercury.