Tag: service center

Some hot-rolled coil market participants said they're optimistic that the market will remain strong throughout the rest of the year. 

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 Steel has opened the acceptance period for its public delisting tender offer for all outstanding Kloeckner & Co SE shares.

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.

Canada’s Varsteel Ltd. has acquired Acier Quebec-Maritimes Inc., a steel and aluminum service center in Riviere-du-Loup, Quebec.

Limited spot product and extended lead times continue to characterize the domestic plate market, prolonging upward price pressure.

Target Steel and Target Metal Blanking are expanding into Mexico.

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.

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.