Russel Reports "Stellar" Third Quarter

Toronto-based Russel Metals reported “stellar” results for its third quarter, attributing the company’s success to a high steel price environment and improved demand in all three of its business segments: service centers, energy products and steel distributors.

Trade actions by government authorities have increased steel prices, which has benefited both producers and distributors. However, these actions have created significant uncertainty in the industry, said John G. Reid, Russel president and CEO. “We are extremely pleased with the performance of our operations across all segments as we continue to successfully navigate an environment filled with trade disruptions and evolving supply chains.”