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Times have been pretty good for U.S. producers and distributors of steel plate, but there are worries the conditions may get a little softer in the back half of the year.
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Reliance Steel & Aluminumís record revenues of $11.5 billion in 2018 keeps it atop the annual survey of North Americaís largest service center companies.
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The U.S. will impose an additional 10 percent tariff on approximately $300 billion of Chinese imports, though President Donald Trump pushed back the date some of the tariffs will go into effect to December.
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Russel Metals reported net revenues of $937 million in the second quarter, a decline of 4.2 percent compared with the same quarter in 2018. First-half revenues for the Canadian service center company were up 3.1 percent to $1.97 billion.
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From demand to availability to raw materials, the stainless industry is in the middle of a relatively flat run. And only global political events are likely to reverse the trend.
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Though spending on public works has been performing better than expected, such strength won’t linger unless Congress and the president can agree on a major spending bill.
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Friedman Industries, Longview, Texas, reported net earnings of $5.1 million on sales of $187.2 million in its Fiscal Year 2019. Earnings increased 29.6 percent compared with the prior fiscal year, while sales were up 54.5 percent from the past year.
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Gains in the automotive sector have been a ‘boon’ for aluminum extruders.
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If you are mystified by today’s steel prices, you are not alone.
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From tax incentives to material changes, service centers have plenty of reasons to invest in new equipment… and they are.
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The dual effects of Section 232 tariffs and NAFTA upheaval have put the brakes on Mexico’s steel market. The country’s return hinges on an end to the trade uncertainty.
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The appliance market defied macroeconomic trends with a flat year in 2019. Will the sector continue to defy the odds this year?
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Solid end-use demand helps producers and distributors of structural tubing products navigate tricky market dynamics.
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End markets, trade actions and freight costs underscore the importance of supply chains to toll processors.
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The millennial workforce has altered the way businesses in all industries operate. Companies in the metals sector must evolve with the times and understand their new generation of sales associates and purchasing managers to ensure that when 2030 or 2035 ushers out the old cadre of executives, a new crop is ready to take its place.
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Section 232 survived its first test of constitutionality. It likely won’t be the last. Last week, the U.S. Court of International Trade ruled in favor of the administration in a lawsuit brought by the steel import group American Institute of International Steel.
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The past year was undeniably a great year for steel mills, and mostly a pretty good one for service centers. The Section 232 tariffs led to an immediate spike in pricing, and domestic mills benefited from the decline in imports. With some exceptions, service centers tagged along for the ride.
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The recent past hasn’t been kind to the nickel market. Between 2015 and 2017, when nickel prices dropped to as low as $7,700 per ton, the market for the metal suffered through its most tumultuous period since the economic downturn of 2008-09.
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