Tag: service center

“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.

Olympic Steel elected Peter J. Scott to its board of directors at its annual meeting on May 2. At the same time, long-time director Michael G. Rippey has retired from the board after 10 years.

Ryerson's net loss shrinks in first quarter.

But profits slipped vs. last year.

A factor in the sales was customers buying ahead of tariff-related price increases.

Participants on the HARDI Sheet Metal/Air Handling Council call said underlying demand is solid but there are slower pockets in some markets.

Steel service center shipments and inventories report through March 2024.

Olympic Steel has named Alex Hegler as general manager for its Action Stainless facility in Rock Hill, S.C.

Olympic Steel has opened a new facility in Houston to support its Action Stainless business.

Lower volumes and steel prices dampened Worthington Steel’s profits, but market momentum is building, the metals processor said in its most recent quarterly earnings report.

Demand is up, but tariffs raise concerns

Flat rolled = 58.6 shipping days of supply Plate = 49 shipping days of supply Flat rolled With the rapid run up in prices, US service centers saw a significant pickup in orders that caused flat-rolled steel supply to decline in February. At the end of February, service centers carried 58.6 shipping days of flat-rolled […]

Olympic Steel has seen jobs for line pipe jump in recent weeks as the Trump administration has talked up fossil fuel production, which is good news for hot-rolled coil producers. Meanwhile, tariff talk has lengthened lead times, Olympic executives said.

Ryerson swung to a loss in the fourth quarter, but has seen a turnaround in the last 30 days.

Reliance noted that it is about 95% domestically sourced.

Russel Metals said on Thursday that it doesn’t expect to be directly impacted by US tariffs on Canadian steel. The Mississauga, Ontario-based distributor made the comments in its quarterly earnings report on Thursday. The company doesn’t export significant volumes to the US, it said, and thus doesn’t expect to be directly impacted. However, “The primary […]

Friedman swings to a loss in its fiscal third quarter of 2025.

If 2021 and 2022 was the party, 2024 is the morning after, one panelist said.

Olympic Steel Inc. has promoted Brant Harbert to general manager for the company’s three facilities in Bedford Heights and Dover, Ohio.

Denver-based service center Brown Strauss Steel has named Kris Farris as CEO, effective Jan. 1. Farris has also joined the company’s board of directors. He previously served as president and COO of Brown Strauss Steel. Farris is taking over from Ryan Secrist, who held the CEO role since 2013. Secrist is stepping down from position […]

US mill secures $22 M funding for Nexcast project US-based rolling mill, Golden Aluminum, has secured $22.3 million in government funding for its next generation mini mill project. The company was awarded the funding from the US Department of Energy’s Office of Clean Energy Demonstrations initiative at the end of November. Golden Aluminum plans to […]

Steel fabricators and distributors SPS Companies and State Steel will be merging their service center businesses under the SPS Companies family of firms.

The deal will expand Norfolk’s stainless steel sheet and coil product lines, the company said.

Alkar Steel and Processing supplies hot- and cold-rolled steel, high carbon spring steel, high strength-low alloy steel, coated and stainless steel products throughout the Midwest.

Depressed demand and weak prices drove Worthington Steel’s second fiscal quarter results to a sequential decline.

Steel Market Update is pleased to share this Premium content with Executive members. For information on how to upgrade to a Premium-level subscription, contact info@steelmarketupdate.com. Flat rolled = 61.4 shipping days of supply Plate = 50.5 shipping days of supply Flat rolled Flat-rolled steel supply at US service centers remains seasonally high. November inventories edged down […]