Tag: service center

Flack Global Metals (FGM) has consolidated Pacesetter Steel Service under the FGM brand, finalizing the group’s formal transition, the company said on Friday.

Some hot-rolled coil buyers expect continued incremental price increases from domestic mills. Others expect steeper increases, even if it risks inviting imports.

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

Worthington Steel swung to a loss in its fiscal fourth quarter as the company completed its acquisition of Germany-based Kloeckner & Co.

Participants in the domestic plate market anticipate incoming price notifications before the end of the month, SMU learned in recent conversations. 

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

Leeco Steel has announced changes to two regional operational manager positions.

A profile of Hascall Steel's Ava Hascall.

Hot-rolled coil market participants report little disruption to their contact volumes, finding timely spot HR proved less straightforward, some sources told SMU. 

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.

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 recovered in May, reclaiming some momentum lost the month prior.

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.

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.

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.

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.

Some domestic spot market buyers say they're seeking imported hot-rolled (HR) coils.

Fresh off the closing of Worthington Steel’s acquisition of Kloeckner & Co., Worthington President and CEO Geoff Gilmore sat down with SMU to reflect on the transaction and outline the path forward.

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.