Steel Mills
October 26, 2017
Reliance: Energy and Nonresidential Construction Improving
Written by Sandy Williams
Reliance Steel & Aluminum experienced an uptick in orders for energy and nonresidential construction during the third quarter. Demand, in general, was stronger than anticipated, however tons sold are expected to decline 4.0 to 6.0 percent in the fourth quarter due to seasonal slowdowns and fewer shipping days.
Reliance anticipates the average selling price in Q4 will be flat or down 2.0 percent compared to the third quarter due to lower activity level. Reliance supports the recent mill price increases and passed on costs to customers. Price increases will likely be reflected in inventories in the first part of 2018.
