One year after the service center industry shattered most records in the annual Metal Center News’ Top 50, the industry has done it again. But the first seven months of 2023 suggest a third-straight year is not in the offing.

Historic pricing and strong demand led to across the board sales records in the 20th year of MCN’s survey of North America’s largest service centers. Photo courtesy Reliance Steel & Aluminum.

New Castle Stainless Plate LLC has made three changes to its commercial team. Tony Palermo will be promoted to vice president commercial effective Jan. 1, 2022. Palermo replaces Frank Alvin, who is retiring effective Dec. 31.

As with other commodity metals, the stainless steel segment is stressed as supply can’t keep up with surging demand.

A promising year for the industrial economy was turned on its head by the biggest public health crisis the globe has seen in more than a century.

Specialty metals distributor A.M. Castle, Oak Brook, Ill., intends to become a private company, based on a filing with the Security and Exchange Commission. The company’s board of directors determined the continued costs associated with remaining a publicly traded company could not be justified to the company and its shareholders at present.

Of all the casualties of the novel coronavirus pandemic, commercial aerospace might be the hardest-hit sector of the industrial economy.

A.M. Castle reported net sales of $87.7 million in the second quarter, a 42.7 percent decline from the same quarter in 2019. Sales were down 33.3 percent compared with the prior quarter.

With the quick and unplanned move by many companies to a remote workforce, cybercrime risk grows considerably.

A.M. Castle & Co., Oak Brook, Ill., has promoted President Marec Edgar to CEO and a member of the board of directors. Steve Scheinkman will retire as chairman and CEO of the specialty metals distributor.

A.M. Castle & Co., Oak Brook, Ill., reported net sales of $136.1 million In the third quarter, an 8.1 percent decline compared to the same month the prior year. The specialty metals distributor reported a net loss of $12.2 million, nearly double the $6.7 million loss reported in the same quarter of 2018.

The grounding of Boeing 737 is just one of the challenges facing the otherwise strong aircraft industry.

A.M. Castle & Co., Oak Brook, Ill., reported net sales of $147.9 million in the second quarter, a 1.7 percent decline compared with the second quarter of 2018. The company reported a net loss of $8.3 million, largely flat with the second quarter last year.

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.

A.M. Castle & Co., Oak Brook, Ill., reported net sales of $149.5 million in its first quarter, a 2.5 percent increase compared to the same month in 2018.

Volume and price increases helped A. M. Castle & Co. generate net sales of $582 million in 2018, 12.2 percent increase over full-year 2017.

Union Partners LLC has appointed industry veteran Steve Letnich as the chief operating officer of Contractors Steel. Letnich succeeds Marc Bokas, who has retired after 40 years in the industry.

A.M. Castle & Co., Oak Brook, Ill., has qualified to trade on the OTCQX Best Market after previously trading on the OTCQB Venture Market. The OTCQX Best Market is reserved for companies meeting high financial standards, adhering to best corporate governance and compliance practices and requires a professional third-party sponsor introduction.