Metals pricing poised for increase: Reliance exec

Oct 24, 2013 | 03:42 PM | Corinna Petry

Tags  Reliance Steel & Aluminum, metals pricing, earnings report, Metals USA, Dave H. Hannah, Gregg J. Mollins, Evraz North America, Corinna Petry

CHICAGO — Reliance Steel & Aluminum Co.’s earnings dipped in the third quarter due in part to seasonal demand and weaker metals pricing.

And although Reliance executives see the metals pricing environment as challenging, they believe business is steady and poised for improvement.

Metal prices are now at or near bottom, and when demand grows so will prices, chairman and chief executive officer David H. Hannah said during a conference call Oct. 24. "Despite the persistently soft pricing environment, which weighs heavily on our net sales and profitability, the strong operational execution by our managers in the field partially offset the pricing impact" Reliance felt during the third quarter.....

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