Steel Mills
October 20, 2016
Reliance Steel: Softer Prices and Demand
Written by Sandy Williams
Reliance Steel & Aluminum reported sales of $2.19 billion, down 0.8 percent from Q2 and down 4.4 percent from Q3 2015. Tons sold were down 4.9 percent from the previous quarter to 1,445,500 tons with average selling price per ton up 4.4 percent, sequentially.
Reliance was able to maintain during most of the quarter the 4.4 percent increase in average selling price resulting from mill price increases in second quarter. Higher inventory costs and declining prices late in the quarter, along with lower volume decreased margins by 1 percent.
