Russel Reports Record Shipments
By
Metal Center News Staff on
May 11, 2025
Russel Metals Inc., Toronto, reported record quarterly shipments in the first quarter. The company’s metal service center segment shipped 409,000 tons in the quarter, up 29 percent from the same quarter of 2024 and 14 percent from the prior quarter.
Russel’s first-quarter sales totaled $1.17 billion, an increase of 10.9 percent from Q1 of 2024 and 12.9 percent from the fourth quarter.
Russel executives said its shipment levels have benefited from some element of customer buying in anticipation of the imposed tariffs, a strong seasonal recovery and market share gains. Its near-term activity could be impacted by international trade policies and North American industrial activity, while over the medium-term it expects to benefit from further rebuilding of the U.S. industrial manufacturing base.
Along those lines, Russel looks to continue to grow its U.S. operations, which added Tampa Bay Steel to its lineup of U.S. operations at the tail end of 2024.
Russel remains focused on realizing the benefits from our most recent acquisitions, including a number of initiatives to integrate the acquired Samuel branches and realize synergies related to metals procurement for the Tampa Bay operation. In addition, it is continuing to evaluate additional acquisition opportunities with the focus on expanding its metals service center platform in the U.S., Russel CEO John Reid said.