Tag: service center

Worthington Steel has completed its takeover offer for Germany-based service center group Kloeckner & Co. following the fulfillment of all closing conditions.

Participants in the hot-rolled coil spot market revealed that growing discomfort with current market dynamics hasn't deterred them from conducting spot transactions.

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

All regulatory conditions for Worthington Steel's acquisition of Germany-based service group Kloeckner have been met, a spokeswoman told SMU on Wednesday.

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

SMU released its latest steel market survey results on Friday. The main takeaway: the stronger for longer narrative is still very much in the house.

In a May 11 price notice, SSAB upped its transaction prices for new, non-contract plate orders confirmed to ship from June 28 onward.

Plate market participants expect additional base price hikes from domestic mills, something that has some eyeing imports.

The current rally in sheet prices has lasted more than seven months, something without recent precedent. Unless your definition of recent includes the snapback in demand following the pandemic.

Ryerson swung to a profit in the first quarter as it began the integration of Cleveland-based service center chain Olympic Steel.

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.

Domestic sheet market participants found business conditions remarkably consistent this week. 

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.  

Last week, Steel Market Update and CRU hosted our inaugural VIP Briefing in Chicago ahead of the Scouting America Metals Industry Dinner.

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

Sheet market participants reported steady to elevated demand over the past week. But while spot prices continued to edge up, some sources said lead times were becoming more closely aligned to industry norms.

Marubeni-Itochu Steel Americas Inc. (MISA) plans to build a $37 million flat-rolled steel processing plant in Osceola, Ark., adjacent to Big River Steel.

Reliance Inc.’s earnings jumped in the first quarter on strong pricing and demand.

Varsteel Ltd said acquiring Pacifica Steel’s structural steel division supports its geographic expansion strategy. 

The flat-rolled steel market looks poised for continued gains despite widespread concerns about higher freight costs stemming from the Iran War, according to SMU's latest steel market survey.

Thyssenkrupp Materials Services announced its majority stake acquisition of Aceroteca Trading, S.A.P.I. de C.V. in Santa Catarina, Nuevo León, Mexico.  

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

Worthington Steel has exceeded the minimum share threshold for its acquisition of Kloeckner and Co.

Worthington Steel reported steady progress on its planned acquisition of Kloeckner & Co., calling the deal a major strategic step as steel markets show early signs of tightening in the US and remain under pressure in Europe.

Longview, Texas-based Friedman Industries announced it will increase the building's size and add fabrication capabilities, including laser-cutting equipment.

US service centers’ flat-rolled steel supply declined for a second consecutive month in February, with shipping days of supply slipping to 52.2 on an adjusted basis, according to SMU data.

This week sources said spot prices on hot-rolled coils increased modestly. 

Reliance Inc. announced two big US government contract wins from its wholly-owned subsidiary AMI Metals Inc.

Worthington Steel reduced its minimum acceptance threshold to 57.5% for its purchase of Kloeckner & Co.