Reliance Steel & Aluminum increased sales 18.9 percent to $2.44 billion in the third quarter 2013 from $2.06 billion in third quarter 2012. Tons sold were up 31.3 percent year-over-year to 1.45 billion tons. Net income was $95.1 million, down 3.1 percent from $98.1 million in the third quarter of 2012 and up 17.4 percent from […]
Buyers are telling Steel Market Update (SMU) that there have been some spot price offers which were held through the end of this past week. Most, however, are informing us that those mills who publicly announced new pricing are asking for increases and holding the line. We don’t doubt that there could be some orders placed […]
Flat rolled steel service centers held 2.17 months of inventory on their floors, according to the results from our latest steel market survey completed on Thursday of last week. This is essentially unchanged from the 2.15 months measured at the beginning of the month and in line with the MSCI data reported at the end […]
According to just released Metal Service Center Institute (MSCI) data, total steel inventories at the distributors as of the end of July were 7,642,600 tons. This is 12.2 percent below the 8,953,900 tons held by service centers at the end of July 2012. The daily shipment rate dropped to 157,500 tons per day (22 day […]
Based on the results from our steel survey conducted this past week, service center inventories dropped to 2.09 months and have been declining over the past couple of months. Steel Market Update does not weigh larger service center results any differently than smaller service centers. We defer to the MSCI data as being more complete. […]
Based on the results of our latest SMU steel market survey, service center flat rolled inventories (as of this week) dropped from 2.37/2.33 in January and early February to 2.19 months. We did hear from service centers during the survey process of their continued focus on lowering inventories from these levels. SMU considers large, medium […]
Written by: John Packard Steel Market Update did not move our Price Momentum Indicator out of Neutral where we have been “stuck” for the past 10 – now going on 11 weeks. The market lacks clear direction – or maybe a better way to view it is the market lacks personality. This is perhaps best […]
Based on our survey results from this past week, SMU found service center inventories have declined slightly from where they were at the beginning of January. Each service center is treated equally in our survey – we do not weigh the survey due to size. As of last week our average was 2.29 months worth […]