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 […]
Reliance Steel & Aluminum Co. and wholly-owned subsidiary Diamond Manufacturing Co. announced the acquisition of Ferguson Perforating Co., effective Oct. 2. Los Angeles-based Reliance is the largest service center company in North America. Ferguson specializes in producing highly engineered and complex perforated metal for diverse end markets ranging from aerospace and automotive to industrial machinery, […]
Reliance Steel & Aluminum Co., Los Angeles, reports that its operations in the Houston area suffered no material damage to facilities, equipment or inventories because of Hurricane Harvey. Many facilities were closed and unable to ship for most of last week due to the catastrophic flooding, but are now reopened and operational. Reliance operates 13 […]
Reliance Steel & Aluminum Co., Los Angeles, reports that its operations in the Houston area suffered no material damage to facilities, equipment or inventories because of Hurricane Harvey. Many facilities were closed and unable to ship for most of last week due to the catastrophic flooding, but are now reopened and operational. Reliance operates 13 […]
Reliance Steel & Aluminum Co. is expecting flat up to a 3 percent increase in pricing in third quarter after experiencing pricing pressure in second quarter. Recent price increases in June and July have held, and Reliance expects demand to carry prices higher, whether or not Section 232 action is taken. “The absence of meaningful […]
I have received a number of comments on the LinkedIn posts that I have put out there over the weekend. I shared our “Black Swan” article on my personal LinkedIn account as well as our Steel Market Update LinkedIn group account. I also received a question about the “average margin for a service center” that […]
Reliance Steel & Aluminum turned in a strong first quarter with sales up 17.4 percent to $2.42 billion from Q4 2016 and net income up 81 percent to $111.7 million. On a year-over-year basis sales were up 11.9 percent and income 21.1 percent. “Improved demand, higher metal pricing and continued strong execution resulted in record […]
Reliance Steel & Aluminum reported sales of $2.06 billion in fourth quarter, up 1.7 percent from fourth quarter 2015 and down 5.7 percent from Q3 2016. Tons sold at 1,365,000 were down 1.1 percent from Q4 2015 and down 5.6 percent from third quarter. Average selling price per ton sold was $1,500, essentially the same […]
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 […]
What we like to hear for our member companies: One of the largest service centers in the U.S. told us earlier this week after registering for our Steel Summit Conference, “Our guys tell me your conference is very good, I’m looking forward to attending. Also, several mills tell me that your conference is turning into […]
Reliance Steel & Aluminum Co. reported net income rose 11.9 percent to $100.9 million in second quarter 2016. Sales of $2.20 billion were down 9.1 percent from a year ago but up from first quarter by 1.9 percent. Gregg Mollins, President and CEO of Reliance, said, “The metals pricing environment for carbon steel products was […]
Reliance Steel & Aluminum posted net income of $92.2 million on sales of $2.16 billion for first quarter 2016. Tons sold were up 8.9 percent from Q4 2015 with average selling price down 15.6 percent from a year ago and down 2.4 percent from the previous quarter. Reliance sold 1,216,700 tons of carbon steel in […]
Reliance Steel & Aluminum Co. has acquired custom sheet metal fabricator Best Manufacturing as of April 1, 2016. The company will operate as wholly-owned subsidiary of Reliance with current management remaining in place. Headquartered in Jones Arkansas, Best Manufacturing provides various precision fabrication services including laser cutting, shearing, CNC punching, CNC forming and rolling, as […]
Reliance Steel & Aluminum Co. has acquired custom sheet metal fabricator Best Manufacturing as of April 1, 2016. The company will operate as wholly-owned subsidiary of Reliance with current management remaining in place. Headquartered in Jones Arkansas, Best Manufacturing provides various precision fabrication services including laser cutting, shearing, CNC punching, CNC forming and rolling, as […]
Reliance Steel & Aluminum reported net income of $68.8 million for fourth quarter of 2014, down 25.7 percent from fourth quarter 2014 but up 33.5 percent from third quarter. Total sales for Q4 were $2.03 billion down 21.4 percent year over year and down 11.4 percent from third quarter 2015. Total tons sold were down […]
Reliance Steel & Aluminum Co. has completed the acquisition of Tubular Steel, Inc., effective Jan. 1. TSI is a distributor and producer of carbon, alloy and stainless steel pipe, tubing and bar products. The company is headquartered in St. Louis, Mo., and ships from its seven U.S. service centers more than 2 million custom-cut lengths […]
Reliance Steel & Aluminum has reached an agreement to purchase all of the outstanding capital stock of Tubular Steel, Inc., a distributor of carbon, alloy and stainless steel pipe, tubing and bar products. Tubular Steel is headquartered in St. Louis, Missouri and has eight service center locations across the U.S. TSI net sales for 2014 […]
I am here in New York City participating in the Cowen & Company Global Metals and Mining Conference. Day one was dedicated to the steel industry and the various commodities (scrap, iron ore, metallurgical coal). I thought I would provide a snapshot into some of the comments made during the conference by various CEO’s. Lourenco […]
Reliance Steel & Aluminum Co. posted net income of $54.4 million in third quarter despite falling prices, decreased sales, and a restructuring charge of $55.5 million related to businesses serving the energy industry. End market demand was relatively steady in third quarter, except in the energy market where shipments dropped approximately 40 percent year over […]
Reliance Steel & Aluminum Company reported strong profits despite sliding sales and shipments in the second quarter. Net income was $90.2 million, a 2.4 percent drop from first quarter. Earnings per diluted share of $1.20 were above second quarter guidance. Sales of $2.42 billion slipped 7.3 percent from first quarter and 7.4 percent year over […]
Service centers and wholesalers are making no bones about it – it is time for the steel mills to raise steel prices. A good example was comments made by incoming Reliance Steel & Aluminum CEO, Gregg Mollins during last week’s earnings conference call: ” I think personally we expect a price increase in the not […]
Reliance CEO Gregg Mollins is expecting a steel price increase in the “not too distant future.” Steel prices have been bouncing near bottom due to a flagging energy industry and competition from extraordinary levels of steel imports. The spread between domestic and foreign is now thin, said Mollins, business is good, and demand is there. […]
Reliance Steel & Aluminum fourth quarter consolidated sales rose 11.7 percent year over year to $2.58 billion. Tons sold increased 4.4 percent year over year to 1,469,300 tons. Carbon steel sales of $1.4 billion fell 5.9 percent sequentially with tons sold down 4.7 percent to 1,999,300 tons. The average selling price per ton of steel […]
Reliance Steel & Aluminum Co. announced on Tuesday the purchased of Fox Metals and Alloys, Inc. for an undisclosed sum. Fox Metals, based in Houston, Texas, is a steel distributor specializing in alloy, carbon and stainless steel bar and plate products, primarily servicing OEMs and machine shops supporting the oil, gas and petrochemical industries. “The […]
Reliance Steel & Aluminum Co reported record sales for third quarter of $2.71 billion on shipments of 1.5 million tons. Not only did the company have good results to report, the Reliance executives had good commentary to offer in their third quarter conference call. Reliance noted that their purchase of imported steel has increased from […]
Metal Center News published their top 50 service centers based on volume with Reliance Steel & Aluminum taking top honors once again by a wide margin. Reliance 2013 revenues were $9.22 billion up from 2012 revenues of $8.44 billion. The next five service centers are closely bunched with revenues of at least $3.0 billion but […]
The $156 million judgment against Nucor, Reliance Steel & Aluminum, American Alloy Steel and JSW Steel (USA) will be delayed two weeks while the defendants file a motion for a new trial in the anti-trust lawsuit brought by MM Steel LLC. Last week US District Judge Kenneth Hoyt ruled that a $52 million jury verdict […]
Damages in an anti-trust lawsuit against Nucor Corp, Reliance Steel & Aluminum, American Alloy Steel, JSW Steel and one individual defendant have been tripled to a final judgment of $156 million. US District Judge Kenneth Hoyt granted MM Steel LP’s motion to treble the $52 million jury verdict, rejecting motions by the defendants to delay […]
Reliance Steel & Aluminum, the largest metals service center in the United States, announced earnings earlier today. The company reported net income of $87.2 on sales totaling $2.09 billion. Sales included the recent acquisitions of Metals USA and Haskins Steel. The company reported an 8.4 percent improvement in same store sales over the same quarter […]
We learned today that ArcelorMittal will be taking down their #7 blast furnace at Indiana Harbor for two months: June & July 2014 (scheduled maintenance). The #7 furnace is capable of producing up to 11,500 tons of molten pig iron per day when ready at full capacity. Our assumption is US Steel Gary Works should […]